Business
Pakistan petrol price may hit all-time high amid rising inflation; Rs150 per litre
In a major blow to consumers, petrol prices in Pakistan may hit the highest level as Pakistan Tehreek-e-Insaf (PTI) plans to raise the price of petroleum products by Rs6 per litre.
Islamabad: In a major blow to consumers, petrol prices in Pakistan may hit the highest level as Pakistan Tehreek-e-Insaf (PTI) plans to raise the price of petroleum products by Rs6 per litre.
Reports quoting sources said Thursday that the price of petrol is expected to reach an all-time high of Rs150 per lite amid global oil price hike.
However, the Ministry of Finance will make a final decision after consultations with Prime Minister Imran Khan and the new prices will be effective from January 16.
According to Oil and Gas Regulatory Authority (OGRA) officials, global crude oil prices have been on the rise for the last 11 to 12 days and Pakistan’s petroleum prices are likely to increase because the country largely depends upon imported fuel.
It is pertinent to mention here that the federal government, on the eve of the New Year, had announced another hike in the prices of petroleum products, increasing the price of petrol and high-speed diesel (HSD) by Rs4 per litre for the first 15 days of January 2022.
The price of kerosene had been increased by Rs3.95, and light diesel oil (LDO) by Rs4.15 per litre.