Petrol price being increased by Rs1.71 per liter, says Shahbaz Gill

ISLAMABAD (Dunya News) – Special Assistant on Political Affairs Dr Shahbaz Gill said on Friday that the petrol price is being increased by Rs1.71 per liter on the recommendation of the Oil and Gas Regulatory Authority (OGRA).

In a series of tweet, the special assistant announced that the price of diesel is not being hiked. “The diesel price impacts mostly on the common man and the farmer, so the summary of hiking diesel price has been rejected,” he tweeted.

In another tweet, he said, “According to the data of July 26, the price of petrol in 27 countries of the world is lower than Pakistan and in 140 countries it is higher than Pakistan. The average price of petrol in the world is $1.19 per liter but the price of petrol in Pakistan is $0.72 per liter. Petroleum products grew 47% in the world but 11% in Pakistan.”

He further maintained that these prices will take affect from August 1.

 “It may be recalled that the 27 countries, where prices are lower than Pakistan, most of the countries are self-sufficient in their petroleum products. At present, the government of Pakistan is collecting almost zero tax on petroleum products. The whole world is suffering from inflation because of coronavirus,” Shahbaz Gill tweeted.

 

Earlier, the Oil and Gas Regulatory Authority (OGRA) had recommended an increase in the price of petrol from August 1.

According to a report, the OGRA had forwarded a summary to the Petroleum Division in which it has recommended an increase in the price of petrol.

The reports said that the petrol price was likely to increase by Rs1.71 per litre. However, the price of kerosene was likely to go up by Rs0.35 per liter, while the price of light diesel might be increased by Rs0.24 per liter.

Meanwhile, the OGRA had recommended a decrease in the price of high speed diesel by Rs2.27 per liter.

The final decision on revision in prices of petroleum products would be taken by Prime Minister Imran Khan. The Finance Ministry would announce the new prices after the approval of the prime minister.