Petrol may become more expensive from February

Petrol may become expensive. The petroleum products prices in Pakistan are likely to go up yet again from February 1.

OGRA recommends increasing petrol price by Rs.12 per liter, told sources.

There are chances of the sharp increase of Diesel price by Rs.10 per liter; regulator recommended.

Pakistan’s government has increased the prices of petroleum products twice after every 15 days in January.

The Oil and Gas Regulatory Authority (Ogra) has sent a summary of the prices of petroleum products in which it has proposed an increase for petrol price Rs.12 per liter and Rs10 per liter for diesel; say sources in the petroleum division.

Ministry of Finance would take final The final decision; headed by Dr. Abdul Hafeez Shaikh after consultation with Prime Minister Imran Khan. Ogra prepared its summary based on a levy of Rs.30 per liter.

Currently, the levy on petrol is Rs21.56 per liter and Rs23.9 per liter on diesel. Similarly, The government can reduce the proposed increase to a very low level by not increasing the levy or it can maintain the current prices of petroleum products with a slight reduction in the levy.

Firstly, On January 1, the petrol prices went up by Rs 2.31 and diesel by Rs1.80;

However, On January 15, the government again increased the price of petroleum products with:
Petrol price, Rs3.20 more expensive per liter
Also Diesel, Rs2.95 more expensive per liter.

Last year the prices also fluctuated in October 2020, According to a handout of the federal finance ministry, the new prices would remain enforced in the country for 15 days from 16 to 30 September.