GOVT ALLOWS RS4.26 INCREASE IN PETROL PRICE

ISLAMABAD (9 News) – The federal government on Friday night allowed a massive increase in the prices of petroleum products, raising the price of petrol by Rs4.26.

According to the Finance Ministry, the new price of petrol is Rs112.68. The new price will come into effect from June 1.

The finance Ministry sources informed that he new price of petrol would be Rs112.68 per litre while the price of high speed diesel has been increased by Rs4.50 to reach Rs126.82 per litre.

The price of kerosene oil has been increased by Rs1.69 to reach 98.46 per litre while light diesel has been increased by Rs1.68 to reach 88.62.

The new prices will be imposed after 12pm today.

OGRA recommends hike in petrol prices by Rs 8.53 ahead of Eid

A day earlier, the Oil and Gas Regulatory Authority (OGRA) has recommended to increase in the prices of petroleum products ahead of Eidul Fitr.

According to the details garnered, OGRA has asserted that the prices of petrol should be increased by Rs9 to reach Rs116.53 per liter.

The proposal includes the price of high speed diesel (HSD) by Rs8.99, taking the new price to Rs131.31 per liter. The new price of kerosene may be increased by Rs1.69, taking the proposed price to Rs98.46.

Similarly, price for light diesel oil (LDO) is likely to increase by Rs1.68, thereby taking the new price to Rs88.62 per liter.

The impact of rupee depreciation against the dollar is said to be incorporated in HSD and petrol prices, while the remaining increases would be made due to the rise in crude oil rates.

The federal government will take the final decision for increase in the prices after consultation with Prime Minister Imran Khan.