Tag Archives: Prices of Petroleum Products

Prices of Food Items Zoom to High Peaks with Upswing in Prices of Petroleum Products

Prices of Food Items Zoom to High Peaks with Upswing in Prices of Petroleum Products


admin | January 6, 2018 | category: News

Prices of Food Items zoom to high peaks with upswing in prices of petroleum products. The prices of food items have zoomed to high peaks following hike in prices of petroleum products by federal government.

The traders are playing havoc with the pockets of common man with scaling up prices of all food items, groceries, vegetables in order to satiate their lust for money minting and growing billionaires overnight.

A wanton increase by the traders community in the prices bear witness that the prices committees are playing the role of puppets in the hands of profiteers and retailers.

These committees through their criminal obliviousness towards the financial woes being exacerbated by the galloping prices have posed a set back to the Chief Minister (CM) Punjab policy of providing eatables and groceries to the poor masses at subsidized rates without compromising on the standard and quality of the products.

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

The wave of price hike swept away the business of small traders, shop keepers and retailers so much so that they are forded to shut their shops.

The low paid government employees have to bear the brunt of price escalation most as their salary witnesses a raise to the tune of 10 percent but upswing in the rates of commodities soars to 25 percent defeating the purpose this increase in their salaries.

The galloping wheel of price hike is running at breakneck speed forcing the poor people to commit self immolation .

The shop keepers and small fruit and vegetable traders said that expressions of sympathy for the retailers and small fruit and vegetable traders, vendors are never seen on the faces pf commissioner, deputy commissioner and the concerned officials as what ever steps are taken by them to bring stability in the prices are not people friendly but are a covert declaration for economic murder of common man.

Should we shut our shops amid the ever growing rent of shops, sky rocketing utility bills and blood curdling carriage charges, said a group of shopkeepers with distress rolling deep their eyes.

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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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APBF Asks Govt To Cut Tax Ratio To Keep Oil Rates Stable

APBF Asks Govt To Cut Tax Ratio To Keep Oil Rates Stable


Sumera Saeed | November 2, 2017 | category: News

APBF Asks Govt To Cut Tax Ratio To Keep Oil Rates Stable. The All Pakistan Business Forum (APBF) has condemned the government for increasing prices of petroleum products up to Rs5.19 per liter, terming it bad news for the country’s economy, as this is third consecutive hike in fuel rates 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.

The govt increased the price of petrol by Rs2.49 per litre. High speed diesel price was enhanced by Rs5.19 per litre, light diesel oil by Rs3 per litre and kerosene oil price increased by Rs5.19 per litre for November.

Petrol price will go up to Rs75.99 per litre from the current Rs73.50 per litre. HSD price has gone to Rs84.59 from current Rs79.40 per litre. The prices of kerosene oil, after an increase of Rs5.19, will go up to Rs53.19 per litre from the existing Rs48.00 per litre.

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.

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.

At a time when country’s trade deficit was further stretched by 34 percent during 2MFY18 to $6.3 billion owing to rise in imports and slow exports growth amidst high cost of doing business, the continuous hike petroleum as well as power tariff is very unfortunate.

He lamented that the National Electric Power Regulatory Authority (NEPRA) has recently enhanced the electricity and gas tariff which is dangerous particularly for the industry in Punjab.

The NEPRA had allowed an increase of 48 paisa per unit in the average electricity tariff for Discos for 2015-16, allowing them to put an additional burden of more than Rs 24.34 billion on consumers.

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.

For further updates stay tuned with daytimes.pk

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 | March 30, 2017 | 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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