As the price of crude oil keeps changing internationally per barrel, the local oil market also keeps changing the price of petroleum products. OGRA (Oil and Gas Regulatory Authority) yesterday (29-11-2017) again forwarded the proposal and recommended the government to increase the price of petroleum.
OGRA has recommended the government to increase the price of petrol by PKR 1.48. And it was also urged by the authority to also increase the prices of both kerosene oil and light-speed diesel by PKR 15.35 and PKR 13.15 respectively. Let’s see how the government responds to the recommendation made by OGRA.
It is to be noted here that if the federal government approves the recommendation, then the prices will change starting tomorrow (1-12-2017). The existing price of the petrol is PKR 75.99 and if the government approves the change than the new price will be PKR 77.47 per liter. Same goes with the price of Kerosene oil and light-speed diesel. If changed the price of Kerosene oil and light-speed diesel will surge to PKR 68.54 and PKR 62.15 from PKR 53.19 and PKR 49 per liter respectively.
There is a lot of buzz in the world as the oil prices keep on changing every now and then. The price of crude oil in internal markets went up to $60 per barrel from $52 barrel during October.
At the start of this month the government of Pakistan changed the prices of petroleum products, the price of petrol went up by Rs.2.49 per liter, and high-speed diesel by Rs.5.19, Kerosene by Rs.5.19 and lastly the price of light diesel by Rs.3 per liter.
And now again it is highly likely that the government will change the prices as recommended by OGRA and in relation to that the fare of transport will also go up considerably.
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