Petrol price likely to go up by Rs9 before Eid

OGRA to forward summary on May 30, new prices to take effect from June 1


Zaigham Naqvi May 28, 2019
OGRA to forward summary on May 30, new prices to take effect from June 1. PHOTO: FILE

ISLAMABAD: The government is likely to increase prices of petroleum products by as much as Rs12 per litre from June 1, just days ahead of this year’s Eidul Fitr.

The Oil and Gas Regulatory Authority (OGRA) will forward its summary proposing new rates on May 30 while the new prices will take effect from June 1 after approval by the prime minister, sources told The Express Tribune on Tuesday.

The price of petrol may be increased by Rs9.50 while high speed diesel (HSD) may go up by Rs11.5. Similarly, price for light diesel oil (LDO) is likely to increase by Rs7.85 while kerosene may see a rise of Rs12 per liter.

PTI govt drops its first petrol bomb

The impact of rupee depreciation against the dollar is said to be incorporated in HSD and petrol prices, while the remaining increases would be made due to the rise in crude oil rates.

Earlier this month, the Pakistan Tehreek-e-Insaf (PTI) government dropped its first ‘petrol bomb’ on masses, increasing prices of petroleum products by up to nearly 10%.

Petrol price was increased from Rs98.88 to Rs108.42 – reflecting an increase of Rs9.54 per litre or 9.6%.
The price of HSD — most widely consumed petroleum fuel — was increased to Rs122.32 from the Rs117.43 per litre. The HSD prices were also increased by 4.2%.

The light diesel oil prices went up from Rs80.54 to Rs86.94 per litre and price of kerosene oil to Rs96.76.

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