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Price of petrol in Pakistan raised by Rs1.71 per litre starting August 1

Petrol will consequently cost Rs119.80 per litre, starting August 1.

Pic01-044 KARACHI: Jun01- A worker of local petrol pump changes the price numbers of petrol due increases of petrol products. ONLINE PHOTO by Syed Asif Ali

The government has raised the price of petrol by Rs1.71 per litre, the premier’s aide on political communication, Shahbaz Gill, said on Friday.

According to Gill, the decision was made as per the recommendation of Oil and Gas Regulatory Authority (OGRA). Petrol will consequently cost Rs119.80 per litre, starting August 1.

He said that it was decided that the rate of high speed diesel be kept constant, as a hike in this commodity impacts the “common man and farmers more”. Thus, diesel will continue to be priced at Rs117.53 per litre.

Similarly, no change has been made to the price of light diesel oil.

Meanwhile, Kerosene, starting August 1, will cost Rs0.35 dearer, at Rs85.75 per litre.

It was rumoured that OGRA has recommended a Rs1.71 per litre increase in the price of petrol and a Rs2.27 per litre increase in the price of diesel.

It was also rumoured that it recommended a Rs0.35 per litre hike in the price of kerosene and a Rs0.24 raise in the price of light diesel oil.

‘Pakistan has only witnessed 11% rise in petrol prices’

Gill said that according to the international market rates on July 26, there are only 27 countries in the world that have petrol priced lower than the rate in Pakistan, whereas the commodity is priced higher than Pakistan in 140 countries.

He said that the average price of petrol in the world is $1.17 per litre, whereas in Pakistan, it amounts to $0.72 per litre.

The premier’s aide said that petrol prices have witnessed a 47% rise in the world, whereas the increase in Pakistan has only amounted to 11%.

He asked the nation to “bear in mind” that the majority of the 27 countries that have petrol priced lower than the rate in Pakistan are “self sufficient in petroleum products”.

“At this time, the government is collecting a nearly zero percent tax on petroleum products,” Gill said, adding: “Right now, the whole world is in the grip of inflation due to corona.”

Ahmed Mukhtar Naqshbandi

Media person and communication expert for over 25 years. Worked with Dow Jones News, World Bank, CNBC Pakistan, Aaj TV, ARY TV, Abbtakk TV, Business Recorder, Pakistan Observer, Online News Network, TTI Magazine and other local and world Publications.

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