The Government of Pakistan has raised another 6.62Rs in Petroleum Prices, just a day before EID. The sudden rise of prices in the international market urged the increase in prices. However, the increment might be considered as a backlash, as the previous 20+ Rs increases did. The Petrol Price will be sold with an addition of 3.86Rs to a raging 103.97Rs per litre, quotes the Finance Division Press Release
HSD – High-Speed Diesel will be sold somewhere near 106.46Rs per liter. The massive increase in the prices is questionable. The 5Rs increase in HSD prices, Around 5.97Rs increase in Kerosene prices along with other increments in LDO. The Light Diesel Oil (LDO) will be sold around 62.86Rs per liter, an increment of 6.62Rs observed.
The Oil Price trend in Global Market urged this sudden increase as mentioned earlier, the new prices will be affected by tomorrow. The first day of Eid will be the first day of new petroleum prices in Pakistan. OGRA – The Oil and Gas Regulatory Authority proposed an increase of 7-9Rs in petrol prices. Furthermore, an increase of 6Rs was suggested for High-Speed Diesel, LDO, and kerosene rates. The price increase might be less than proposed but the increase is already enough to compliment OGRA and the Government policies.