For consecutive two times this year on the recommendation of Oil and Gas Regulatory Authority (OGRA) the government raised the prices of petroleum products and other lubricants. Now again OGRA has forwarded a summary to Ministry of Finance to soar the prices of petroleum products. According to the details available to us, the authority has proposed the rise in rates as follow;
- Petrol: PKR 3.56 per litre
- High-Speed Diesel: PKR 6.94 per litre
- Light Diesel: PKR 1 per litre
- Kerosene Oil: PKR 6.28 per litre
If the ministry approves the summary then in March the prices of the petroleum products will be revised once again. The current rates of fuels are mentioned below;
- High-Speed Diesel: Current price PKR 95.83
- Kerosene Oil: Current price PKR 70.26
- Petrol: Current price PKR 84.51
- Light Diesel: Current price PKR 64.30
It is pertinent to mention here that previous hike in prices was harshly criticised by consumers and transporters. Moreover, the Islamabad, Lahore and Faisalabad Chambers of Commerce also responded and criticised the hike in price. The authorities were of the view that this constant price hike would be bad for the economy of the county and prices of household items and products will increase, which will provoke more panic among the public.
That’s it from our side, do drop your thoughts in the comments section below.