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Govt Set to Give New Year Gift by Soaring Petroleum Prices Upto Rs 13 Per Litre

Govt Set to Give New Year Gift by Soaring Petroleum Prices Upto Rs 13 Per Litre

Sumera Saeed | December 29, 2017 | category: News

Govt set to give new year gift by soaring Petroleum prices upto Rs 13 per litre. The incumbent government is all set to give new year’s costly gift to its masses as prices of petroleum are scheduled to be increased upto Rs. 13.

As final phase of the government’s period is going on and almost five months are left in completing its tenure, it is leaving no stone unturned to impose taxes and soaring prices of essential commodities. According to media reports, the petroleum prices would shoot up till Rs 13 on the eve of new year.

Majority of Pakistanis who belong to lower middle class, own motorcycle as their ride was already annoyed with increase of Petrol prices as during the last two to three months, the price of petrol has had been increased upto Rs 11n per litre so far.
The upward trend started when Petrol was being sold at Rs 68 per litre and now it is being sold at Rs 77. 47 per litre and after increase it will reach to almost Rs 82 per liter. This increase in Petroleum prices would not only affect the majority of motorcyclists but transporters who have increased fares on various long routes, would like to increase fares.
According to details, the fuel prices will go up as high as Rs 13. The authorities have decided to add Rs 4.06 in the per litre value of petrol. The price of high-speed diesel would be increased by Rs 5.83 per litre while there will be at least Rs 12.49 per litre increase in the price of light diesel.
The highest price spike will be seen in the rate of kerosene oil. Rs 13.58 per litre increase is likely to be witnessed in its price.

The formal approval to raise oil prices will be given by the Ministry of Finance after the Oil and Gas Regulatory Authority (OGRA) sends its summary.
The Ministry of Petroleum and Ministry of Finance will seek final approval from Prime Minister Shahid Khaqan Abbasi on petroleum products. It is worth mentioning that the government had hiked prices of petroleum products for the month of December.
During 2017 petrol price was up by 20.5 percent to Rs 77.47 per liter, high speed diesel was up by 18.5 percent to Rs 85.95 per liter, light diesel oil rose 20.25 percent to Rs 57.58 per liter and kerosene oil price was up by 33 percent to Rs 57.58 per liter.

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