Earlier this month, the PTI Government after taking the charge, dropped its first petrol bomb on most of the population by increasing the petrol prices by 10 percent. And once again, just in the timeframe of one month, Govt. is most likely to increase petrol prices yet again from Rs. 9 per liter to Rs. 12 per liter before Eid, June 1.
The Oil and Gas Regulatory Authority OGRA will forward its summary on the 30th of May, proposing the new rates, although the new prices will take effect on June 1st after the approval of the Prime Minister, sources informed a Private Media in Tuesday.
Govt. will increase petrol prices before Eid by Rs. 9 per liter.
The prices of Petrol may be increased by Rs. 9.50 while High Speed Diesel is most likely to go up by Rs. 11.15. The Light Speed Diesel will increase by Rs. 7.85 and the price in the Kerosene will see a hike of Rs. 12 per liter.
The recent impact of the rupee devaluation is said to be incorporated in the petrol prices, and on the High Speed Diesel, while the remaining hike will be due to increase in the crude oil rates.
In the previous month, petrol prices were increased from Rs. 98.88 to Rs.108.42, reflecting an increase of Rs. 9.54 per liter or 9.6%.
The price of High Speed Diesel was increased to Rs. 122.32 per liter from Rs. 117. 43 per liter, in which the HSD prices were increased by 4.2%.
Although, there was pretty much less increase in the Rs. 80.54 to Rs. 86.94 per liter and the price of Kerosene oil to Rs. 96.76.