ISLAMABAD: The public will likely see an increase in petroleum prices up to Rs 5 per litre from January 01, 2014 as a summary regarding would be submitted to PM’s office for approval on December 27.
Oil and Gas Regulation Authority (OGRA) is assessing the increase of oil prices in gulf oil market to draft the summary of oil prices hike in Pakistan.
According to the news report of a daily Pakistan Today, The price of petrol is projected to increase by Rs 3.30 per litre. The prices of hi-speed diesel and hi-octane are projected to increase by Rs 4.70 and Rs 5 per litre respectively. Prices of light diesel and kerosene are expected to rise by Rs 3.75 and Rs 3.25 per litre respectively.
It is being said that government will announce the petroleum price hike officially on December 31, and the new prices will came into effect from the New Year 2014, but linked to Prime Minister Nawaz Sharif’s approval.
It has been expected that if summary gets approved petrol price in the country will exceed Rs 117 per litre, while the new prices for hi-speed diesel and hi-octane would top Rs 121 and Rs 150 per litre.
The inflation in Pakistan will automatically rise oil prices gets increased.
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