Petrol Price Increased by Rs 9 Per Litter: Notification
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Another jar to inflation-hit masses as PM Shahbaz Sharif-led government on Sunday chosen to jack up petrol cost by Rs9.66 for the following 15 days.
The ministry of finance in a notice expressed that as portion of the fortnightly amendment of costs of petroleum items, on the suggestion of Oil & Gas Regulatory Authority (OGRA), the Government of Pakistan has chosen that the consumer costs, with impact from 1st April, 2024.
However, the government chosen to cut diesel cost by Rs3.32 per liter, it added.
It additionally said that an increment in the costs of petroleum items will be connected from 12 o’clock today till April 15.
Following the noteworthy increment, the latest cost of petrol is Rs289.41 per liter, whereas Rs282.24 per liter for HSD, it added.
On march 15, the government picked to keep petrol costs unaltered for the next 15 days. Introductory projections recommended a potential increment of Rs10 to 11 per liter amid this period, fundamentally due to import premiums and worldwide cost hikes.
Citing insider data, it was uncovered that geopolitical pressures driven to a $4 surge per barrel in petrol import costs, with moment premiums climbing from $12.15 to $13.5 per barrel, deciphering to the expected rise in petrol prices.
Conversely, diesel costs seen a decrease in the oil industry, inciting Pakistan State Oil (PSO) to keep up a unfaltering moment premium of $6.50 per barrel. Subsequently, high-speed diesel costs are anticipated to drop by Rs1.30 to Rs 2.50 per litre.
According to authorities, later calculations show a $4 increment in petrol costs to $94.5 per barrel, whereas diesel costs plunged by 60 cents to $98.4 per barrel.
The government’s choice from 15 days prior remains in impact, keeping up petrol at Rs279.75 per liter and lessening diesel costs by Rs1.77 to Rs 285.56 per liter.
