Refinery audit may cut prices by Rs40-50/litre
Dawn · The Newspaper's Staff Reporter ·
Sector earns Rs32.2bn in July-Sept, almost 20 times higher than Rs1.6bn a year ago.
KARACHI: Petroleum dealers have called for an immediate, transparent and comprehensive forensic audit of the country’s oil refineries, citing a sharp rise in sector profitability and saying that a review of their finances could allow cuts of Rs40-50 per litre in petroleum prices.
According to Topline Securities, refinery sector profitability rose to Rs32.2bn in 1QFY27 from Rs1.6bn in 1QFY26 and Rs1.1bn in 4QFY26, mainly due to higher Gross Refining Margins (GRMs) amid the US-Iran war.
PPDA Chairman Malik Khuda Bakhsh and senior leadership said the petroleum minister’s recent statement on extraordinary refinery profits confirmed concerns and reservations the association had previously raised.