This has been coming around as the surprising move that the Government has in one night raised up the prices of the petrol and diesel for the Pakistan people. This is quite a surprising move as the caretaker government on Monday announced on with the considerable increase in the prices of petroleum products for the sake of the remaining days of June. Hence the price rates of the petrol have been increased by Rs4.26 per liter (4.9%), as well as climbing to Rs 91.96, and that of kerosene by Rs4.46 per liter that is around (5.6%), climbing to Rs84.34. This has been the statement issued by the Finance Division. Apart from it, the price of the high-speed diesel has been all raised as jacked up by Rs. 6.55 per liter (6.6%) to reach Rs. 105.31. This newly announced price has been much effective from June 12 to the midnight on June 30, 2018.
Government Increases Prices Of Petrol And Diesel
Behind the Details of New prices of Petrol and Diesel by Government:
Hence the Government usually came up with the announcement of the new oil prices on the last day of every outgoing month which is applicable from the midnight of the new month. Earlier it, there has been some of the reports that the caretaker government has decided not to change the prices of petroleum products for the time being. A senior government official did add on with the statement that the caretaker ministers did not support a price increase. In the summary that had been moved to the PML-N government in May, Ogra had recommended Rs. 12.50 as well as Rs. 8.37 per liter increase in the prices of high-speed diesel and so as the petrol, respectively. At the same time, the PML-N cabinet, however, had decided on top of its last meeting not to increase the oil prices and hence leave it to the caretakers while putting up the ordering that prices should remain unchanged for seven days, i.e., June 7. The caretaker government has also brought about the increase in the amount of petrol, as well as diesel and kerosene oil for July 2018. It has been recommended by the Oil and Gas Regulatory Authority (OGRA).
What are the New prices of Petrol and Diesel by Government?
The new price of the petrol by the Government has been set as Rs 99.50, as well as diesel Rs 119.31, plus kerosene oil Rs 87.70 and light diesel oil is around Rs 80.91. The statement is brought out the result that there has been the increase in the petroleum prices that was caused due to increase straight away into the international market and depreciation of the rupees against the American dollar.
The official statement did state that the financial impact of the dispensation would be implemented all the way through the revision of the sales tax rates and the petroleum development levy. It has been stated out that the OGRA had proposed an increase in the prices of petrol by Rs 7.55 per liter, as well as diesel by Rs 14 per liter, or kerosene oil by Rs 3.36 per liter and light diesel oil by Rs 5.92 per liter.