Govt likely to jack up petrol price by Rs9 before Eid: report

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Govt likely to jack up petrol price by Rs9 before Eid: report
Govt likely to jack up petrol price by Rs9 before Eid: report

The legislature is probably going to expand the costs of oil based goods by as much as Rs12 per liter from June first.

The Oil and Gas Regulatory Authority (OGRA) will advance its rundown proposing new rates on May 30 while the new costs will produce results from June 1 after endorsement by the executive, sources told a private news source on Tuesday.

The cost of petroleum might be expanded by Rs9.50 while rapid diesel (HSD) may go up by Rs11.5. Essentially, the cost for light diesel oil (LDO) is probably going to increment by Rs7.85 while lamp fuel may see an ascent of Rs12 per liter.

The effect of rupee devaluation against the dollar is said to be consolidated in HSD and oil costs, while the rest of the increments would be made because of the ascent in unrefined petroleum rates.

Prior this month, the Pakistan Tehreek-e-Insaf (PTI) government dropped its first ‘oil bomb’ on masses, expanding costs of oil based goods by up to about 10pc.

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