News
September 02 , 2022
Govt Drops another Petrol Bomb amid Floods
Islamabad: As the country reels under floods, the government on Wednesday dropped another petrol bomb, raising the prices of petroleum products with effect from September 1, despite the Oil and Gas Regulatory Authority’s (OGRA) proposal calling for a reduction.
The government has raised the price of petrol by Rs2.07 per liter, high-speed diesel Rs2.99 per v, kerosene oil Rs10.92 per liter and light diesel oil by Rs9.79 per liter.
Following the fresh increase in prices, petrol price has gone up from Rs233.91 to Rs235.98 per liter; high-speed diesel from Rs244.44 to Rs247.43 per liter; kerosene oil from Rs199.40 to Rs210.32 per liter and light diesel oil from Rs191.75 to Rs201.54 per liter.
The finance ministry said in a statement that the government had considered the recommendations to make the partial increase in petroleum prices in line with the changes in international prices along with the fluctuation in the exchange rate.
The ministry also said that the petroleum levy had been kept minimum in order to provide relief to the consumers.
High-speed diesel is widely used in the agriculture and transport sectors. Since the country is already witnessing rising inflation and floods, the prices of commodities are likely to surge. The increase in high-speed diesel, therefore, directly hits the people and increases the inflationary impact… - The Express Tribune
Courtesy The Express Tribune