Petrol likely to cross Rs150 per litre first time in country’s history
January 31, 2022 12:00 PM
The federal government is all set to announce new prices of all key petroleum products (POL) Monday (today) estimated to go up in a range of about Rs5-10 per litre for the next fortnight, reported 24NewsHD TV channel.
The Oil and Gas Regulatory Authority (Ogra) recommended Rs5.50 per litre increase in petrol price taking the one-litre to above Rs150 for the first time in the country’s history.
While, Rs7 increase has been recommended in diesel per litre price while Rs9.50 increase has been recommended in the kerosene oil per litre price.
The decision is being taken because of higher international oil prices and the application of an additional petroleum levy (PL)
Pertinent to note that in the international market, London brent oil has touched its highest level in seven years which was $88 per barrel.
Sources in the refinery said that this will certainly impact Pakistan and the prices of petroleum products here may skyrocket by up to Rs10.72 per litre.
Reporter: Ehtisham Kiyani