We at PakWheels reported last week that Government of Pakistan would increase prices of oil products in the country due to the devaluation of rupee and constant rise in the price of crude oil internationally. The prices of crude oil saw an increase of $2 per barrel in the current month. And now it seems that government would actually increase the price of petroleum products as OGRA (Oil and Gas Regulatory Authority) has recommended it as reported by many local media outlets. If the Government of Pakistan accepts the recommendation made by OGRA, then the new oil prices will come into effect by January 1, 2018.
The new recommended prices by OGRA are as follow:
- Petrol prices: PKR 5.20 per liter
- High-speed diesel prices: PKR 4.50 per liter
- Light diesel oil prices: PKR 6 per liter
- Kerosene oil prices: PKR 10 per liter
It is pertinent to mention here that local car manufacturer IMC Toyota has also increased the prices of few of its cars, while others are expected to follow as well due to rupee getting devalued against Dollar. We also reported this phenomenon as well, and it turned out exactly as we predicted. So it is safe to assume that the prices of oil will inevitably increase.
The ongoing year is proving to be a fearsome one for Pakistanis as in last two months the government has increased the prices of petroleum products twice and now it would be a third time if increased. Moreover, if you are planning to switch to CNG, then there is a bad news for you folks as the government is planning to give more gas to domestic consumers than the CNG stations—meaning less gas available at CNG stations which will result in the shortage of CNG at stations. The government has prohibited stations to sell CNG for 10 hours daily for the next two months starting today (28-12-2018).
Share your thoughts in the comment section below.