Federal govt hikes petrol prices on Eid eve

ISLAMABAD: On the eve of Eidul Azha, the federal government has increased the prices of petrol and high-speed diesel (HSD) by up to Rs 5 per litre for the month of August due to a “rising oil prices trend in the international market”.
According to a notification issued by the Oil and Gas Regulatory Authority (OGRA), the rate of petrol has been hiked by Rs3.86 per litre, raising it to Rs103.97 from Rs100.10 per litre.
Likewise, the government has increased the price of high-speed diesel by Rs5 per litre after which it will be available for Rs106.46 from the existing Rs101.46 per litre.
This fuel is used in the agriculture and transport sectors and therefore increase in its price would affect these sectors and inflation would go up further.
An increase of Rs5.97 per litre has been made in the price of kerosene oil, taking its rate to Rs65.29. This fuel is used in remote areas where LPG is not available for cooking purpose.
Furthermore, the light diesel oil price has been hiked by Rs6.62 and its new price will be Rs62.86 per litre. This fuel is used for industry.
Earlier, the government had increased the price of petrol by Rs25.58 per litre for the month of July in line with the hike in global crude oil prices on June 26.
As per details, the real impact of the increase in petrol was Rs31 per litre based on the data and working made by Pakistan State Oil (PSO). However, the government decided to increase the price of petrol by Rs25.38 per litre.
Earlier on July 29, Federal Minister for Energy Omar Ayub Khan had announced that the government planned to hold a thorough investigation into the fuel crisis, which occurred in June, to take the elements involved in hoarding and creating artificial shortage of the commodity to the task.
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