New Year Brings An Increase In The Oil Prices
The government revised prices of petroleum products on Sunday increasing the price of petrol by Rs4.6 per litre. The government of Pakistan has decided to significantly increase the prices of all petroleum products from the first month of 2018 by up to Rs. 6.79 per liter.
- The price of high speed diesel has been increased by Rs. 3.96 per litre and will sell for Rs. 89.91 per litre.
- Light speed diesel price will now be available at Rs. 58.37 per litre after an increase of Rs. 6.25.
- The price of superior kerosene oil has been increased by Rs. 6.79 per litre and will sell at Rs. 62.30 per litre.
The new prices have come into effect from January 1, 2018.
The Oil and Gas Regulatory Authority (OGRA) recommended an increase of 5.2% in the price of petrol following the fluctuation in global oil prices. It recommended an increase of Rs 4.06 per litre (5.2%) in the price of petrol, Rs. 5.83 per liter (11.4%) in the price of high speed diesel, Rs. 13.58 per litre (23.6%) in the price of superior kerosene oil and Rs. 12.49 per litre (24%) in the price of light diesel oil.
The government holds the global market responsible for the increase in prices and claims that they are lower in Pakistan as compared to those in India, Bangladesh and Turkey.
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