Petrol prices likely to go up once again

By: News Desk      Published: 11:23 PM, 29 Jul, 2020
Petrol prices likely to go up once again
–File photo

The government is considering another increase in the prices of petroleum products after Eid-ul-Azha.

According to the sources, the government has however been advised to increase the prices after Eid to avoid a strong reaction from the masses.

Sources said the Oil and Gas Regulatory Authority (OGRA) has proposed the government to keep the prices of petroleum products unchanged, but the Finance Ministry and oil marketing companies want an increase in the prices.

According to OGRA’s proposal, the government should cut the petroleum levy to give relief to people. The Petroleum Ministry has sent all the proposals to the Finance Ministry and a final decision in this regard will be taken at a meeting chaired by Prime Minister Imran Khan on Thursday evening.

However, sources said, the government is under pressure to increase the prices of petroleum products due to the poor economic situation in the country. The Economic Coordination Committee (ECC) has already proposed that prices of petroleum products should be reviewed every 15 days. In July, the prices of petroleum products went up in the international market.

According to the sources, the proposed increase in the prices of petroleum products is as following: petrol Rs7 per litre, high speed diesel Rs9.50 per litre, kerosene oil Rs6 per litre and light diesel Rs6 per litre.