Petrol Prices Increased Once Again
Petrol Prices Increased Once Again: The caretaker government approved Saturday night a significant upward revision in petroleum prices. The new rates are effective from July 1st.
According to the notification, the caretaker government has cited the worsening economic condition as the reason for the price hike.
The new per-litre prices of petrol, diesel, kerosene oil, light diesel, and high-speed diesel are Rs.99.50, Rs.119.31, Rs.87.70, Rs.80.91, and Rs.105.31 respectively, as per the notification.
This implies a respective price hike of Rs7.54, Rs14.00, Rs3.36, Rs.5.92, and Rs6.55 in petrol, diesel, kerosene oil, light diesel, and high-speed diesel.
Earlier, the Oil and Gas Regulatory Authority (OGRA) had recommended an increase in the prices of petrol, diesel, and kerosene oil by Rs5.40, Rs6.20, and Rs12, respectively, for July 2018.
OGRA forwarded a summary proposing the aforementioned revision to the Petroleum Division of the Ministry of Energy, sources had said.
Prior to the latest development, the caretaker leadership on June 11 had bumped up the prices by Rs.4.26, Rs6.55, and Rs4.46 per litre, respectively, for petrol, diesel, and kerosene oil for the June 12-30 period.
Bilawal Bhutto Zardari, the chairman of the Pakistan Peoples Party (PPP), had criticised the then-proposed move to raise petroleum prices.
In his statement, the PPP chairman had expressed concerns, advising it to focus on ensuring free and fair elections instead of considering another economic burden on the masses.
In line with the party chief’s stance, former opposition leader in the National Assembly, Khursheed Shah, said the hike must be reversed.
He added that the public must not bear the burden of the previous government’s flawed economic policies.
On June 11, the caretaker government had increased petrol prices by Rs.4.260 per litre, diesel by Rs.6.55/litre and kerosene by 4.46/litre for the period June 12 till midnight of June 30, 2018.
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