Business

New Year's Gift: Petroleum price increase approved

Prime Minister Gilani approves Ogra's summary of increase in petroleum prices.

Express December 31, 2010

ISLAMABAD: Prime Minister Syed Yousaf Raza Gilani on Friday approved Oil and Gas Regulatory Authority’s (Ogra) summary on the increase in petroleum prices.

Petrol prices will increase by Rs4.88 per litre from January 1 while prices of kerosene oil, high octane and diesel will go up by Rs 3.75, Rs5.64 and Rs4.14 per litre respectively.

The increase in petroleum prices will be due to the increase in prices of petroleum products in the international market, said the summary sent to the prime minister.

Oil prices have traded close to recent two-year highs, as traders continued to absorb news that US crude reserves fell by more than double market expectations last week.

Ogra will announce the new prices of petroleum products today at 11 pm.

COMMENTS (4)

irfan | 13 years ago | Reply govt should first cut their expenses then expect any sacrifice from the people.

Nak | 13 years ago | Reply International Oil price in running day by day, so we need proper policy on Petroleum in our country. other wise Inflation will destroyed our economy.

VIEW MORE COMMENTS

Badar | 13 years ago | Reply not only the petroleum prices but now suicide has also become expensive....

Muhamaed Husein | 13 years ago | Reply Does PM pay for petrol of his entourage from his own pocket.Evidently not. I think he should compare the monthly bill of December 2010 and January 2011 when it comes,he will then know the difference. Till then enjoy...

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