ISLAMABAD - Owing to oil marketing companies (OMCs) and petroleum dealers’ demand of gigantic increase in their margin, Adviser to Prime Minister on Petroleum & Natural Resources has summoned a meeting on Wednesday (today) to negotiate with companies on the matter.

Reliable sources told that fifty percent increase in the margin of oil marketing companies and petroleum dealers is likely in next couple of days. They said that the OMCs have demanded Rs1.20/litre increase in petrol margin, while on high-speed diesel (HSD) they have demanded of Rs0.90/litre. Similarly, petroleum dealers have asked to jack up their margin on petroleum products. The dealers have sought Rs1/litre on petrol and on HSD they have demanded of Rs0.80/litre. “The OMCs and oil dealers have sought increase owing to increase in business expenses,” sources said, adding, that this demanded increase if approved by the ministry then it would be submitted in the federal cabinet’s economic coordination committee (ECC) for final approval and then would be passed on to the consumers.