Expected spike in petroleum prices fuels anxiety among the masses
Pakistan
Govt may increase the petrol price by Rs9.88 per litre for second fortnight of August
ISLAMABAD (Dunya News) – The federal government is likely to increase the petroleum price by up to Rs22 a litre in bi-monthly revision tonight (Tuesday).
Sources said the Oil and Gas Regulatory Authority (Ogra) had recommended Rs9.88 per litre increase in petrol price and Rs21.84 per litre increase in the high speed diesel price.
The new prices would be announced after holding consultation with caretaker Prime Minister Anwaarul Haq Kakar. The revised petroleum prices would come into effect from Aug 16.
Over the past two weeks, the prices of refined oil products surged by $13 to $111 per barrel while petrol price went up by $7 to $97 per barrel in the international market.
The government is currently charging Rs55 and Rs50 in the wake of levy on petrol and diesel prices, respectively.
Earlier on Aug 1, the former finance minister had announced a whooping Rs20 per litre increase in petrol prices for the first fortnight of August.
Meanwhile, people have expressed concern over reports of yet another increase in fuel prices. They complain that they have already been facing a great deal of trouble due to rocketing prices of essentials and say any further spike in petrol prices will pile agony on them.
There were also reports of 'shortage' of fuel at some filling stations in Lahore and elsewhere in anticipation of another price hike. The masses want to know how long will they continue to face inflation and economic hardships.
