Petroleum Prices likely to Rise or Drop? [READ]

Islamabad: The Oil and Gas Regulatory Authority (OGRA) has prepared a summary, seeking an increase in petroleum prices from October 16, 2021.

According to sources, the oil and gas regulator has sent a summary of changes in prices of petroleum products to the Petroleum Division. Sources said that OGRA has proposed to increase the price of petrol by Rs 5.90 per liter.

In addition, OGRA has proposed to increase the price of diesel by Rs 10 per liter. It should be noted that the final adjustment in petrol prices will be made by the Finance Ministry in consultation with the Prime Minister.

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According to a report recently published by Baaghi TV, one of the country’s leading economist Dr. Hafeez Pasha had indicated the possibility of a further increase in the prices of petroleum products in Pakistan.

It should be noted that the Ministry of Finance had a meeting on October 1, 2021 to discuss the significant increase in the prices of all petroleum products. The Finance Ministry had increased the price of petrol by Rs 4 per liter, light-speed diesel by Rs 8.82 per liter, kerosene by Rs 7.5 per liter, and high-speed diesel by Rs 2 per liter.

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Currently, the price of petrol has been fixed at Rs 127.30 per liter, light-speed diesel at Rs 99.51 per liter, high-speed diesel at Rs 122.04 per liter, and kerosene at Rs 99.31 per liter.

What will be the new prices? What do you think about the government’s decision, do mention in the comments section below!

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