The country’s usual fuel consumption is around 3.7 million metric tons, of which the CPC markets 3.2 million.
The balance 700,000 metric tons is sold by LIOC.
Profit of 40 million!
The CPC had not issued fuel on November 03 due to the fuel shortage, but on November 04 the CPC had issued 4.4 million litres of petrol, on November 05 a million litres, on November 06 it had issued 3.8 million litres of fuel and on November 07 the CPC had issued 3.9 million litres of fuel.
Within these four days the CPC had issued 2.6 million litres more than the usual amount.
The CPC earns a profit of Rs. 16 per litre of fuel and accordingly, the CPC had earned an additional profit of Rs. 42.2 million by the sale of the additional 2.6 million litres of fuel.
However, the CPC has now taken a decision to maintain a three month buffer stock of fuel to avert any future fuel crisis and prevent a repetition of the recent crisis.