Petrol Prices expected to rise again, ahead of Eid
Oil and Gas Development Authority (OGRA), will be submitting the latest summary to increase prices of petroleum products on 30th May. Price of petrol is likely to be raised by Rs.9.50, while High-Speed Diesel by Rs.11.5, Light Diesel by Rs.7.85 and Kerosene Oil by Rs.12.
The price change would be effective from 1st June, while Eid-ul-Fitr is likely to be celebrated on 5th June. As per the usual procedure, the price rise would be subject to the Prime Minister’s approval. Last month, Prime Minister moved the OGRA’s summary to ECC for review, which was then accepted with a slight discount.
Since August 2018, when PTI’s government took over, the petrol price has increased by over 13% (aggregate). While May 2019 has already observed a substantial increment of over Rs.9.
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