The government of Pakistan revises fuel prices twice a month. The new prices are implemented every 1st and 16th; you know the drill. Last time the government increased petrol price by Rs. 2.13 per liter on the 16th of June. Today’s the first day of July, and, as expected, we have another hike in petrol price.
The Oil and Gas Regulatory Authority (OGRA) sent a summary to the Petroleum Division, proposing to increase petrol price by Rs. 6 and high-speed diesel by Rs. 3 per liter from the 1st of July. The Prime Minister Imran Khan reviewed and approved the proposal, but with some tweaks and changes. The finance ministry announced the new prices today. Petrol price has been increased by Rs. 2 and diesel price by Rs. 1.44.
Old Petrol Price
As per the old petroleum prices in Pakistan, petrol was at Rs. 110.69 per litre, diesel, kerosene oil, and light diesel were at Rs. 112.55, Rs. 81.89, and Rs. 79.68, respectively.
New Prices
After the government increased the petroleum prices, the new petrol price has become Rs. 112.69, and the new diesel price is Rs. 113.99. The price of kerosene oil and light diesel have come to Rs. 85.75 and Rs. 83.40. The new prices are now in effect.
It had only been 15 days since the government increased the price by Rs. 2.13 per liter. What were OGRA’s reasons for suggesting a massive price hike of Rs. 6, and what was written in that summary? We don’t know. But one thing’s for sure, consumers are not okay with this second price hike in a row.
What do you think about the government’s decision of increasing the petrol prices yet again? How do you feel about another price hike of Rs. 2? How do you think the others are reacting? Share your thoughts in the comments section.
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