Govt drop Petrol Bomb on Inflation hit people by raising prices by 10 Ruppes per Litre.
On the Saturday night Government increased the prices of petrol by Rs10 per litre for the next 15 days.
In a televised address, the finance minister said that the rationale behind a hike in the price of petroleum products was the “increase in petroleum prices in the international market and exchange rate variation”.
The Oil and Gas Regulatory Authority (Ogra) had recommended a significant increase, the minister said, but the federal government did not pass on the full impact to masses.
As a result, price of petrol has been increased to Rs282 per litre, while high-speed diesel (HSD) and light diesel oil rates will remain stable at Rs293 per litre and Rs174.68 per litre, respectively.
Meanwhile, the government increased the price of kerosene oil by Rs5.78 per litre, moving it from Rs180.28 per litre to Rs186.07 per litre.
After the rise in Petrol prices, the new ex-depot price of petrol will be now be Rs 282 per litre. The price of kerosene oil has also been raised by Rs 5.78 per litre. The new price of kerosene oil is Rs 186.07 from Rs 180.29 per litre.