On the other hand, according to Dawn, the Pakistan Petroleum Dealers Association (PPDA) has accused all Oil Marketing Companies (OMCs) of failing to secure adequate supply in response to demand, leaving the pumps empty and forcing motorists to stop for petrol in metropolitan areas.

The OMC Association of Pakistan (OMAP), which disagreed with the claim, claimed that some gas stations were storing fuel and fabricating shortages in order to boost sales in anticipation of the upcoming increase in gas prices.

The government is unable to manage petrol shortages and supplies, leading to financial losses for businesses and consumers. It's time to hold them accountable and demand better management of fuel supply and prices. #petrolshortage #financiallosses #Pakistan pic.twitter.com/AiFDgi0Ejj

— Dr Amjad Ch (@DrAmjadOfficial) February 10, 2023

According to Dawn, several gas stations in Punjab’s main and small cities have been forced to close due to severe gasoline shortages brought on by the state of the economy.

The situation seems to be the worst in a few major cities, like Lahore, Gujranwala, and Faisalabad, where multiple gas stations are allegedly operating for days on a meagre or nonexistent supply of gasoline due to pressure from the oil marketing companies (OMCs).

“Around 70 of the 450 pumps in Lahore are not working. Shahdra, Wagah, Litton Road, and Jain Mandar are some of the locations where the gas stations are closed due to a lack of fuel “Khawaja Atif, the information secretary for the Pakistan Petroleum Dealers Association, informed Dawn.

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According to local media, there is a major lack of gasoline in various Pakistani cities amid Pakistan economic crisis. Most of the petrol stations are closed. There aren’t many open and those that are only sell a small amount of gasoline. There are protracted lineups of automobiles and bicycles at some fueling stations.

Notably, a spiralling economic crisis and currency depreciation have put Pakistan’s oil firms on the edge of “collapse.”

The post No Petrol In Pumps Amid Economic Crisis Crisis In Pakistan appeared first on Republic Aeon.

Tata Motors is looking to increase passenger vehicle prices from next month in order to make its model range compliant with stricter emission norms which kick in from April 1 next year, according to a top company official.

In an interaction with PTI, Tata Motors Managing Director – Passenger Vehicle and Electric Vehicles Shailesh Chandra said the price revision would also offset the impact of commodity prices, which have remained high for the most part of the year.

The regulatory change will have its impact on the cost. Even the real impact of softening of commodity prices is only going to come from next quarter and we still have the residual impact of the commodity escalation that we have seen during the year,” Chandra said.

He noted that even the battery prices have gone up and the same has not been passed on to the market.

So we are evaluating a price increase basis some of the residual effect that is left as far as the commodity prices are concerned. Battery prices and new regulations have also impacted the EV side,” Chandra said.

Besides, there is a cost involved in making the model range transition to conform to new emission norms, he added.

“We are exploring potential price increase next month because of these factors for both ICE and EVs,” Chandra said.

Tata Motors sells a range of models like Punch, Nexon, Harrier, and Safari in the domestic market. It leads the electric vehicle segment with products like Tiago EV and Nexon EV.

From April 1, 2023, vehicles will need to have an on-board self-diagnostic device to monitor the real-time driving emission levels. The device will constantly monitor key parts for meeting emission standards such as the catalytic converter and oxygen sensors, to keep a close watch on emissions.

In a scenario wherein the emissions exceed the parameters, the device will indicate through warning lights that the vehicle should be submitted for service.

Additionally, in order to control the level of fuel burnt, the vehicles will also carry programmed fuel injectors, which would control the timing and amount of fuel injected into the petrol engine.

The post Auto major Tata Motors considering to hike prices for passenger vehicles from next month – here’s why? appeared first on Republic Aeon.

Diesel Crisis Likely: To give impetus to the economy of the whole world, no fuel is needed more than diesel. Trucks, buses, ships, and trains run on diesel only. Apart from this, apart from construction, manufacturing, diesel is also used in agriculture. Diesel is also used to keep houses warm in cold countries. And when the prices of natural gas are skyrocketing, diesel is being used instead of gas in many places. But due to shortage in supply in the coming months, diesel crisis is going to arise in every energy market of the world.

Diesel can be expensive!

Due to the diesel crisis, the prices are expected to increase drastically. Due to which a huge amount may have to be spent to keep the houses warm. Due to the increase in the prices of diesel only in America, the financial burden on the economy there is estimated to increase by 100 billion dollars. Diesel and heating oil stocks in the US are at a four-decade low. There is also a shortage of stock in Northwest Europe. The crisis may deepen further in March 2023 after the implementation of the economic sanctions imposed on Russia. The crisis of diesel can be gauged from the fact that there is such a crisis of diesel in the global export market that poor countries like Pakistan are facing supply crisis for domestic needs. Diesel prices have increased by 50 percent this year in the spot market of New York Harbor, which is the benchmark. The price has reached $ 4.90 per gallon in November, which is double than a year ago. Diesel futures rate in Northwest Europe is $40 more than Brent crude.

There has been a reduction in refining capacity all over the world. There are also problems regarding the supply of crude oil. But the difficulties increase when crude has to be refined into petrol and diesel. Refining companies closed many of their less profitable plants after the demand decreased during the Corona epidemic. Since 2020, US refining capacity has decreased by one million barrels per day. So in Europe, refining has been affected due to shipping disruption and workers’ strike. After the stop of supply from Russia, the problems are going to increase further. European countries depend the most on diesel. In February, the ban will come into effect on the delivery of sea routes of the European Union to Russia. But if an alternative to the supply coming from Russia is not found, then the European economy can be badly affected. Europe’s problem may become more serious due to cold. Europe is still importing diesel from Russia, along with it is also being imported from countries like Saudi Arabia, India.

Impact on poor countries

The refining companies of India and China will benefit from the crisis of diesel, which will be able to sell at an expensive rate. While it can be difficult for poor countries to buy diesel. For example, Sri Lanka is facing difficulties in buying fuel. While Thailand has reduced the tax on diesel, Vietnam is taking emergency steps to increase the supply.

The post Diesel Shortage Likely: Diesel crisis may arise in the whole world, know why appeared first on Republic Aeon.