Govt Increases Petrol Price Up To Rs.10.49 Per Liter

Govt Increases Petrol Price Up To Rs.10.49 Per Liter

The government of Pakistan has decided to increase the petrol price on the recommendation of the Oil and Gas Regulatory Authority (OGRA). OGRA has sent the summary to the Petroleum Division in order to increase the prices of petroleum products. 

The petrol price in Pakistan increases up to Rs. 10.49. The media reports revealed that the petrol price in Pakistan increased by up to Rs. 10.49 and the government has approved it.

Earlier the unsteadiness in the prices of petroleum products in the global market over the last few months led the Oil and Gas Regulatory Authority (OGRA) to recommend an increase of Rs. 11.40 per liter petrol price in Pakistan.

According to industry sources, the petroleum prices in Pakistan increase by up to Rs.10.49. On the other hand, the price of diesel may increase by Rs. 12.44 while the price of kerosene oil increases by Rs.10.99 per liter while the price of light diesel has been increased by Rs 8.84.

Speaking about the record hike in petroleum product prices in Pakistan, Finance Minister Shaukat Tarin claimed that petroleum prices were on the rise globally.

The federal government has implemented the final decision regarding the increase in the petrol price and the prices of other petroleum products in Pakistan and suggested minimal prices due to the increase of prices of petroleum products worldwide.

The new prices of petroleum products in Pakistan are as follows according to a notification issued by the Finance Division:

ProductsOld Prices (Rs/ltr)New Prices (Rs/ltr)Price Increase (Rs/ltr)
Petrol127.30137.7910.49
High-Speed Diesel Fuel122.4134.4812.44
Kerosene Oil99.31110.2610.99
Light Diesel Fuel99.51108.358.84

A few months ago, OGRA had already sent a summary to the government to increase the petroleum prices by Rs 11.40 but the Prime Minister has approved to increase the Rs.5.40 in petrol price.

After the approval the change in prices of petroleum products which the new prices will be applicable from the now on 16th October.

The prices of petroleum products have been increased due to the prices of petroleum products in the global market over the last few months.

The statement issued by the Ministry of Finance revealed that OGRA had recommended an increase in Petrol prices in Pakistan. However, the government only increased Rs 10.90 per liter in the price of petrol and Rs 12.44 per liter in the price of diesel.

It is worth mentioning here that the government had decreased the price of petrol and other petroleum products many times in 2020 but due to the unsteadiness of petroleum products prices in the global market over the last few months government has taken this step. You may expect a further increase in Petroleum Products’ price due to the fluctuation in the prices of petroleum products globally.

For more updates stay in touch with daytimes.pk 

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