Drastic rise in the petroleum prices across Pakistan

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Drastic rise in the petroleum prices across Pakistan

ISLAMABAD - The federal government is mulling over jacking up price of the petrol by Rs9 per litre.

If approved, the new price of the petrol will soar to Rs118 per litre.

As per details garnered, the Oil and Gas Regulatory Authority (OGRA) will forward a summary in this regard to finance division whereas the new price will come into effect from June 1.

It has also been learned that high-speed diesel may go up by Rs11.5 per litre. Likewise, the the price for light diesel oil (LDO) is likely to increase by Rs7.85 while kerosene may see a rise of Rs12 per litre.

OGRA is citing devaluation of PKR against the greenback main reason behind hiking the prices of the petroleum products, while the remaining increases would be made due to the rise in crude oil rates.