Get ready for another Petrol Price Bomb in Pakistan

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Image: geo.tv

After maintaining the prices of petroleum products for around two months, the government has decided to increase the prices further from the month of August.

In line with the increment of global crude oil prices, up to 10% increment is likely to be made from 1st August 2019. The Oil and Gas Regulatory Authority (OGRA) has moved forward the related summary to the federal government, which will be reviewed by the Ministry of Finance before the final verdict.

The proposed price increments by the authority are 5.15 rupees per liter for petrol5.65 rupees per liter for high-speed diesel5.38 rupees per liter for kerosene oil and 8.90 rupees per liter for light diesel. With the proposed addition, petrol would reach to 17.83 rupees per liter from the existing price of 112.68 rupees per liter (ex-depot price).

The federal government usually accepts the summary of OGRA with a modest approach. Likewise, this summary is also likely to be accepted with a slight discount. Last price increment was made back in June when OGRA had moved a summary to increase petrol by 9 rupees. But later, the prices were raised by 4.26 rupees.

The prices stated by the OGRA are ‘ex-depot’ prices, to which minor additions are made by the petrol stations. Currently, the OGRA’s price is 112.68 rupees, but end consumer buys petrol at a cost of 113.10 to 113.22. Additional rates vary from company to company, and usually, company-operated petrol pumps of PSO offer lesser prices.

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