Updated on
Summary
The government has reversed hike in petroleum prices to its earlier prices of December 31. PM Gilani addressing the National Assembly announced that he after deliberations with all political leaders and economic team has decided to take back increase in the petroleum prices. The PM said that reverting petroleum prices was very difficult decision but there was immense pressure over the government to take back the hike in POL prices. After the announcement, Opposition leaser in National Assembly, Ch. Nisar Ali lauded PM Gilani's decision to decrease POL prices.It is worthy to note that the government had increased petroleum prices on December 31. PoL prices were increased by 5.4 percent to 9 percent. Petrol was increased by Rs6.60 per litre and it's new price was fixed at Rs 79.56 per litre. Price of HOBC was raised by Rs 7.57 per litre and it was being sold at at Rs 94.24 per litre. Kerosene oil was increased by Rs 3.95 per litre and new price of kerosene oil was fixed at Rs 74.90 per litre. High speed diesel was increased by Rs 4.24 per litre and it's new price reached at Rs 82.57 per litre.
