Iranian Diesel Floods Pakistani Market | Developing | Dawn News English скачать в хорошем качестве

Iranian Diesel Floods Pakistani Market | Developing | Dawn News English

The heavy influx of smuggled Iranian oil has significantly impacted Pakistan's diesel market, capturing 25 to 30 per cent of the share, and leading to substantial revenue losses for the government and refining industry. According to a comprehensive report by S&P Global Commodity Insights, Pakistani consumers have embraced cheaper Iranian diesel due to high fuel prices, limited dollar reserves, and a weakened local currency. This preference has caused a notable decline in gasoline and diesel sales, with a 24% drop in gasoline sales and a 50% decrease in diesel sales compared to the previous year. Domestic refiners are facing weak consumer demand, primarily due to the widespread availability of Iranian diesel, especially in the southern region, where its lower price has a significant impact on sales. Private dealers have been profiting by selling Iranian diesel at a considerable discount, causing billions of rupees in tax and duty losses. Pakistan officially banned imports of Iranian oil after the US enforced sanctions on Iran’s petroleum and petrochemical trade in 2013. Official Facebook:   / dawndotcom   Official Twitter:   / dawn_com   Website: www.dawn.com Official Instagram:   / dawnnewsenglish   #iran #diesel #dieselprice #fuelprices #fuelpriceincrease #fuelpriceadjustment #pakistannews #businessnews #news #pakistanlivenews #latestnews #latestnewspakistan #pakistannewstoday #dawnnewsenglish #dawnnews #dawn #shortsnews