Wednesday, September 28, 2022

Prices of petroleum products expected to rise by Rs2.50/litre

Prices of petroleum products expected to rise by Rs2.50/litre

According to the Ministry of Finance on Monday, the government is likely to increase the prices of petroleum products by Rs2.50 per litre for next 15 days.

The Oil and Gas Regulatory Company has recommended the petroleum division to raise fuel prices in December. It has sent a summary with higher prices to the division.

OGRA recommends raising petrol prices from Rs2.55 per litre from December 1. High speed diesel should be increased by Rs2.70, it has advised.

Prime Minister Imran Khan has to approve the higher prices before they come into effect.

The Finance Ministry will announce the new prices on November 30. It can also decide to keep prices at the rate they are currently at.

Petrol prices in Pakistan are changed every 15 days. OGRA sends the government a recommendation and the government chooses whether it wants to raise prices, lower them or keep them at the same rate.

Earlier in the last month, the government decided to decrease petrol prices by Rs1.57.