Petroleum products likely to go up by Rs9 per litre from Aug 1

ISLAMABAD (92 News) - The Pakistan Tehreek-e-Insaf (PTI) government is preparing to drop another 'inflation bomb’ on masses, increasing prices of petroleum products by up to Rs9 from August 1. According to the sources, the government is likely to increase prices of petroleum products by as much as Rs9 per litre from August 1, just a day ahead of this year’s Eidul Azha. The price of petrol may be increased by Rs5 while high speed diesel (HSD) may go up by Rs9. In this regard, the Oil & Gas Regulatory Authority (OGRA) has prepared a summary on proposed prices of petroleum products for August 2020. The summary will be forwarded to the Ministry of Finance today. Earlier this month, the Pakistan Tehreek-e-Insaf (PTI) government dropped its first ‘petrol bomb’ on masses, increasing prices of petroleum products by Rs25.58. The government has increased the petrol price by Rs25.58 to Rs100.10 per liter. After approval of an increase in the prices of petrol, high-speed diesel has been increased by Rs21.31 and now it will be available at Rs101.46 per liter. Likewise approval has been granted to increase the kerosene oil by Rs23 per liter. After the increase, it will be sold at Rs58.56 per liter. The price of light-speed diesel has been raised by Rs17.84 per liter and now it will be available at Rs55.98 per liter. On the other hand, a majority of petrol pumps were closed after the increase in the POL products prices.