Hike in Petrol Prices by Rs9 Before Eid

ISLAMABAD: From June 1, only a few days before Eidul Fitr, the government is likely to raise the price of oil products by as much as Rs12 per litre.


On Tuesday, source reports from the Express Tribune, the Oil and Gas Regulatory Authority will send its summary proposing new prices on May 30th, whereas the new prices will be implemented on 1st June after approval by the premier.


The price of oil can be increased by Rs9.50 while diesel (HSD) high speed can increase by Rs11.5. Similarly, the LDO prices are expected to rise by Rs7.85 while kerosene is expected to see an increase of Rs12 per litre.


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The effect of rupee depreciation is said to be reflected in HSD and petroleum prices, with the other increases due to the rise of crude oil rates.


The Pakistan Tehreek-e-Insaf Government (PTI) dropped their first "petrol bomb" on masses by almost 10 per cent earlier this month.


Petroleum price has risen from Rs98.88 to Rs108.42 – a rise of Rs9.54 per litre or 9.6 %.  HSD from Rs 122.32 [117.43] per litre increased by 4.2 %. Light diesel oil prices increased from 80.54 to 86.94 Rs and kerosene oil prices to 96.76 Rs.


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