Tag Archives: price of petrol

Petrol Price May Increase Up To Rs. 7 in January 2018

Petrol Price May Increase Up To Rs.7 in January 2018


Sumera Saeed | category: News

Petrol Price May Increase Up To Rs. 7 in January 2018. It is reported that the petrol price in Pakistan will see increase due to the increase in the exchange rate of the US dollar.

The media reports revealed that the petrol price in Pakistan may increase by up to Rs.7 in January 2018. The price of petrol sees surge in the international market over the previous 20 days and the Pakistani rupee has also brought down against the dollar.

According to the Industry sources the petrol price in Pakistan may increase by up to Rs.7 in January 2018 due to the prevailing conditions in the international and interbank market.

On the other hand the price of diesel may increase by Rs. 5 while the price of kerosene oil may increase by Rs.6.

However the federal government has yet to take the final decision regarding the increase in the petrol price and the prices of other petroleum products in Pakistan.

It is worth mentioning here that the government had increased the price of petrol and other petroleum products last month.

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OGRA Wants increase in Petroleum Prices Up to Rs13 Per Litre From April 1

OGRA Wants increase in Petroleum Prices Up to Rs13 Per Litre From April 1


Sumera Saeed | category: News

OGRA Wants increase in Petroleum Prices Up to Rs13 Per Litre From April 1

The Oil and Gas Regulatory Authority (Ogra) has Proposed to increase the price of Fuel in the country from 1st April, 2017.  In this regard Ogra has projected to Federal Government today on Thursday to increase the petroleum prices up to Rs13 per litre following fluctuations in global crude prices. Ogra has sent a summery to the Ministry of Petroleum and Natural Resources for increase the Petroleum product prices.

The final decision will be approved on Friday on the increase of Petroleum Prices.

New Prices of Petroleum Products:

Ogra had proposed an increase of Rs.2.28 per litre for petrol, Rs.2.04 for high-speed diesel (HSD), Rs.13 for kerosene oil and Rs.7.75 for light diesel oil (LDO).

After the increase the price of petrol will be of Rs75.28 per litre which is presently at Rs.73 while the price of high speed diesel will go up to Rs.84.04 per litre from the current Rs.82.

On the other hand the kerosene oil will be available at  Rs.57 per litre from the current of Rs.44 and the price of LDO will increase from Rs.44 to Rs.51.75 per litre.

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APBF for reducing tax ratio to keep fuel prices stable

APBF for reducing tax ratio to keep fuel prices stable


Sumera Saeed | category: News

APBF for reducing tax ratio to keep fuel prices stable

The All Pakistan Business Forum (APBF) has criticized the government for increasing fuel prices and termed it bad news for the country’s economy, as two weeks after the rate hike, the government on March 1 increased fuel prices once again. Hence, this is fourth consecutive hike in petroleum prices leading to increasing cost of production ultimately.APBF President Ibrahim Qureshi said though the prices of oil in global market is going up yet the authorities can keep the rates stable by reducing tax ratio which is highest in the region.

In the past, the government did not pass on the full benefit of declining oil prices to the public by imposing heavy taxes. It is the time to relax the duties and absorb the burden of soaring petroleum prices in international market by keeping the prices stable. In the past government used to cut POL rates after a period of one month when prices were declining in global market but at the time of rising oil prices government is quickly responding and shifting the burden of oil price increase within 15 days.

The price of petrol was increased from Rs71.29 to Rs73, whereas high speed diesel is now costing Rs82 after an increase of Rs1.52 per litre.

Ibrahim Qureshi, terming it a bad news for the country’s economy which was already facing a number of challenges, said that the increase would put extra burden on the consumers. He said the rates for kerosene oil and light diesel oil were also increased from Rs43.25 to Rs44, and light diesel oil from Rs43.34 to Rs44 respectively.

He said that APBF had always been calling on the concerned government circles to take measures for the promotion of alternate fuels as trade deficit was fast widening due to heavy imports under the head of petroleum products. He said that rise in PoL prices is bound to give a further blow to the industry.

However, the APBF president appreciated Prime Minister Nawaz Sharif for announcing Rs180 billion package for the revival of export-oriented industries, which should be implemented without any further delay along with stability in fuel prices as well as all energy inputs.

The APBF is seriously concerned about the decline in exports and an increase in the trade deficit mainly due to increasing cost of doing business which has impacted export sector viability.

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