Owing to the changes in the price of crude per barrel internationally, the local oil market also gains the impact and the prices of petroleum products fluctuates. OGRA (Oil and Gas Regulatory Authority) yesterday on 29 November 2017 once again put forward the proposal and suggested the government to raise the price of petroleum.
OGRA has suggested the government to raise the price of petrol by PKR 1.48. And it was also recommend by the authority to raise the prices of both kerosene oil and light-speed diesel by PKR 15.35 and PKR 13.15 correspondingly. Let’s see how the government acts upon the recommendation made by OGRA.
If the federal government consents to the recommendation, then the prices will modify starting tomorrow (1 ,December,2017). The current price of the petrol is PKR 75.99 and if the government consents to the change than the new price will be PKR 77.47 per liter. Similar goes with the price of Kerosene oil and light-speed diesel. If changed, the price of Kerosene oil and light-speed diesel will rush forward to PKR 68.54 and PKR 62.15 from PKR 53.19 and PKR 49 per liter correspondingly.
There is countless buzzing in the world since the oil prices keep on varying every now and then. The price of crude oil in internal markets sore up to $60 per barrel from $52 barrel during the month of October.
At the start of this month, the government of Pakistan altered the prices of petroleum products, the price of petrol sore by Rs.2.49 per liter, and high-speed diesel by Rs.5.19, Kerosene by Rs.5.19 and last but not least the price of light diesel by Rs.3 per liter.
Now again it is quite probable that the government will modify the prices as suggested by OGRA and with regard to that, the fare of transport will also rise significantly.
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