After petrol, CNG Prices raised across Pakistan

After petrol, CNG Prices raised across Pakistan
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LAHORE - After petrol, CNG Prices raised across Pakistan.

The price of CNG hiked by Rs3 per liter after the value of the US dollar against the rupee touched an all-time high of Rs151 on May 17.

Compressed natural gas (CNG) reached Rs82.79 per liter today (May 18) from Rs79.90 per liter.

According to All Pakistan CNG Association (APCNGA) President Captain (r) Shuja Anwar, CNG prices are linked to dollar rates so depreciation in Pakistani currency has resulted in the hike of CNG price. “CNG price is directly connected to dollar’s price hence an increase is inevitable,” he explained.

On Friday, According to details, dollar was traded at Rs151 in the open market after gaining Rs4 against the rupee in the open market, whereas in the interbank market it increased to around Rs149.

With the spike in the rate of US dollar, Pakistan’s foreign debt has increased by Rs800 billion with further rise in inflation being anticipated by analysts.

Economy