The Government has increased the rates of petroleum products for January 2020. As per the details, the petrol price has been increased from PKR 113.99 to PKR 116.60, there is an increase of PKR 2.61 per liter in the price. Similarly, the price of High-speed diesel and Light-speed diesel have been increased by PKR 2.25 and PKR 2.08 per liter. The price of High-speed diesel and Light-speed diesel now stands at PKR 127.26 and PKR 84.51, respectively.
Lastly, the price of Kerosene oil has been hiked to PKR 99.45 from existing Rs 96.26– there is an increase of PKR 3.10 per liter.
The Oil and Gas Regulatory Authority (OGRA) has sent a proposal to the government for an increase in the petroleum prices by up to PKR 3.10 for January 2020.
According to the details, the regulatory authority has recommended yet another price hike to welcome the New Year 2020. As per the summary sent to the government, an increase of PKR 2.61 per liter is recommended at the price of petrol. Similarly, the proposed hike in the price of high-speed diesel is PKR 2.25 per liter. The prices of other petroleum products including light diesel oil and kerosene oil are suggested to be revised by PKR 2.08 per liter and PKR 3.10 per liter respectively. If the government approves the above-mentioned recommendations, the new prices of these petroleum products with effect from 1st January 2020 will be as under:
Petrol: PKR 116.60 per liter
High-Speed Diesel: PKR 127.26 per liter
Light Diesel Oil: PKR 84.51 per liter
Kerosene Oil: PKR 99.45 per liter
Last month, the government had reduced the price of petrol by just PKR 0.25 per liter and high-speed diesel by PKR 2.40 per liter. These two products are particularly used in large amounts as their demand in the country remains on the higher side. It is worth mentioning that the prices of petroleum products surged by as high as 25.3% during the last 12 months. The price of petrol also hit its highest mark during August 2019 when it reached at PKR 117.83 per liter. As of now, the price of crude oil in the international market stands at $62.08 per barrel. However, the current prices of these products are mentioned below:
Petrol: PKR 113.99 per liter
High-Speed Diesel: PKR 125.01 per liter
Light Diesel Oil: PKR 82.43 per liter
Kerosene oil: PKR 96.35 per liter
Let’s see whether the government approves the recommendations of OGRA related to petroleum prices or not. Nonetheless, it will add to the sufferings of the general public. Stay connected with PakWheels for any update on this story. Drop your valuable thoughts in the feedback section.