Sunday, March 26, 2023

Govt approves to raise petrol price by Rs5.40 per litre

Govt approves to raise petrol price by Rs5.40 per litre

ISLAMABAD (92 News) - Special Assistant to Prime Minister on Political Communication Shahbaz Gill said on Thursday that the federal government has approved increasing the price of petrol by Rs5.40 per litre.

The Oil and Gas Regulatory Authority (OGRA) had recommended an increase of Rs11.40 per litre petrol price in petrol price.

"Prime Minister [Imran Khan] went against OGRA's recommendation and approved Rs5.40 increase in petrol price keeping in mind public interest," the special assistant said.

The price of diesel has been hiked by Rs2.54 per litre, Diesel Rs1.93 per litre, and Light Diesel Rs1.27, the special assistant said in his thread of tweets.

Earlier a day, the Ogra proposed Rs11 per litre increase in the petrol price. According to a summary forwarded to the Petroleum Division, the Ogra recommended a hike of Rs2.40 per litre in the price of high speed diesel. Similarly, Rs1.40 and Rs1.50 hike was recommended in prices of light diesel and kerosene oils, respectively.

However, the final approval with regard to revision in prices rests with Prime Minister Imran Khan. The new prices will take effect from July 16.