ISLAMABAD – Prime Minister Imran Khan has rejected a proposal to increase petroleum prices by up to Rs14 for February.
Special Assistant to PM Dr Shahbaz Gill said that the summary sent by the Oil and Gas Regulatory Authority (OGRA) for the hike in POL prices had been deferred to provide relief to public.
The move, he said, aimed at not transferring the burden of growing inflation in the international market on the public.
پٹرولیم پراڈکٹس کی قیمتوں میں اسوقت کوئی تبدیلی نہیں ہوگی۔
— Dr. Shahbaz GiLL (@SHABAZGIL) January 31, 2022
The regulatory authority had proposed an increase of Rs11 per litre in petrol price and Rs14 in diesel price.
Earlier, reports in local media claimed consumers could face a surge between Rs5-10 per litre as the federal government is set to announce new prices for the next fortnight on Monday (today).
The ex-depot price of petrol currently stands at Rs147.83 per litre and that of HSD at Rs144.62 per litre while Oil and Gas Regulatory Authority (OGRA) has recommended Rs5.50 per litre, per reports.
Petroleum prices likely to increase by Rs10 per litre in Feb
In the international market, Brent oil has touched its highest level in seven years which was nearly $90 per barrel. The surge in the international market will certainly impact Pakistan and the prices of petroleum products here may skyrocket in the coming months.
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