Yesterday, we reported that Oil and Gas Regulatory Authority (OGRA) had proposed to increase the petrol price by Rs. 5.25 per litre and the diesel price by Rs. 3.5 per litre. The Ministry of Finance consulted with Prime Minister Imran Khan and made the final price revision. The government has increased the price of petrol by Rs. 4 per liter and the price of diesel by Rs. 2 per liter.
Old Prices
As per the old petroleum prices in Pakistan, petrol was at Rs. 123.30 per litre, diesel, light diesel, kerosene oil were at Rs. 120.04, Rs. 90.69 and Rs. 92.26, respectively.
New Prices
After the government increased the petroleum prices, the new petrol price has become Rs. 127.30, and the new diesel price is Rs.122.04. The new prices of light diesel and kerosene oil are Rs. 99.51 and Rs. 99.31, respectively. The new prices are now in effect.
The government has been playing with petrol prices and public emotions for a few months now. From June to September, there’s been much drama in the petroleum department. We had four price hikes in two months, then a month of relief, followed by a massive increase in petrol prices. Just when we thought the prices were at an all-time high, the government has done it again and took the prices even further.
As per the official notification, OGRA worked out the higher petroleum prices but the PM has decided against their recommendation and passed on “the minimum increase” in petrol prices. Really?? Is this the minimum increase the government could do? Highly doubtful!
What do you think about the government increasing the petrol prices time and time again? What are your thoughts on the minimum price increase? What impact will theprice hike have on local consumers? Share your thoughts with us in the comments section.
