After a delay of six days, the government finally notified the revised prices of petroleum products in the early hours of Wednesday, raising the petrol price by Rs1.45.
As per the standard procedure, the notification for revised prices is issued around midnight.
However, this time, the notification by the Finance Division came two hours late, around 2am.
According to the notification, the price of petrol has been increased from Rs235.98 to Rs237.43.
The price of High Speed Diesel (HSD) has been kept unchanged at Rs247.43
Since Sept 15, when the prices were supposed to be revised, the coalition government led by the PML-N remained indecisive over the change.
Based on the Oil and Gas Regulatory Authority’s calculations, the per-litre price of diesel was to be increased by around Rs2 and that of petrol to be reduced by Rs7.
The delay triggered rumours that the government was facilitating petroleum dealers to sell their existing inventories bought at higher rates during the last fortnight.
In another jolt to the inflation-hit masses, the government has increased the petrol price by Rs 1.45 per litre while kept the price of High Speed Diesel unchanged.
According to the notification issued by Ministry of Finance, after the increase in price, new petrol price will be Rs237.43 per litre while price of High Speed Diesel will be remained unchanged and will be sold at Rs247.43 per litre.
The price of light diesel has been reduced by Rs4.26 per litre, after which the new price has been fixed at Rs197.28 per litre. The price of kerosene was reduced by Rs8.30 per litre, after which the new price will be Rs202.02 per litre.
Hey! My name is Mahnoor and I joined Rangeinn as the content & News Writer. Currently, I’m doing my Bachelors in International Relations.