Petrol price seems to hit the century again after four years in Pakistan as the caretaker Government has made a decision of increasing the Petrol Price by Rs4.26 taking the new price of petrol to Rs91.96.
According to a press release issued by the Finance Division on Monday evening, petroleum prices would go up as follows;
Petrol by Rs4.26, Diesel (HSD) by Rs6.55, Kerosene (SKO) by Rs4.46 and Light Diesel Oil (LDO) by Rs6.14 per litre, effective from midnight June 12, 2018.
Accordingly, after the hike, new prices are as follows;
New Prices Per Litre
|Diesel (HSD)||Rs. 105.31|
|Kerosene (SKO)||Rs. 84.34|
|Light Diesel Oil (LDO)||Rs. 74.99|
These prices would be effective from June 12 till June 30, 2018.
In its statement, Finance Division highlighted that in view of the rising global oil prices, the caretaker government has decided to absorb 50 per cent of the proposed hike and pass on 50 per cent to the consumers, considering the month of Ramzan.
Earlier, OGRA had proposed an increase in the price of petrol by Rs8.37 per litre, High-Speed Diesel (HSD) by Rs12.50, Superior Kerosene Oil (SKO) by Rs8.22 and Light Diesel Oil (LDO) by Rs11.65 for the month of June.
However, the outgoing PML-N led government decided to leave the prices unchanged till June 7, 2018, and let the caretaker government set the new prices.