Petrol price in Pakistan may cross Rs 384 per liter tonight.
ISLAMABAD – Prices of petroleum products are likely to rise again today, with reports claiming an increase of up to Rs 6.41 per liter amid soaring global oil prices.
The price of diesel is likely to increase by Rs 6 41 paise per liter while petrol may be expensive by Rs 4 10 paise per litre. The Oil and Gas Regulatory Authority (OGRA) is expected to announce revised petroleum prices tonight. Later, the Petroleum Division will issue an official notification announcing the new rates.
Based on current rates, petrol costs Rs 380.24 per litre. If the proposed hike of Rs 4.10 is approved, the new price will reach around Rs 384.34 per litre. The price of high speed diesel is Rs 409.42 per litre. With the expected hike of Rs 6.41, the price will rise to around Rs 415.83 per litre.
The current price of Light Diesel Oil (LDO) is Rs 279.55 per litre. The expected adjustment does not include any significant increase for LDO, hence its price per liter will remain at Rs 279.55 per litre.
Under the prevailing pricing mechanism, Ogra calculates and determines the prices of petroleum products. However, the Government reserves the right to make adjustments to the final prices in case of changes in taxes, including reduction or increase in applicable levies.
The expected increase comes amid a series of adjustments in petroleum prices, which are likely to put additional pressure on consumer and transport costs.
Petrol prices in Pakistan increased by Rs 54.81 per liter during the last month, from Rs 325.43 on August 14 to Rs 380.24 on September 15, an increase of about 17 percent.
A further hike of Rs 4.10 per liter is expected, taking the price of petrol to Rs 384.34 per litre. If approved, the total hike from August 14 will reach Rs 58.91 per liter or about 18.1 percent. A sustained hike in fuel prices is likely to further pressure transportation and household spending, prompting the government to introduce a fuel relief of Rs.
Pakistan Petrol Rs 100 Relief: 9771 TOK Registration & Apply Online
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