The federal government has issued a notice to increase the price of petrol by Rs10.49 per litre. Apart from this, the price of high speed diesel (HSD) has been increased by Rs12.44 per litre.
The prices of kerosene and light diesel oil (LDO) have been increased by Rs10.95 and Rs8.84 per litre respectively. The new price of kerosene is Rs110.26 per litre and that of LDO is Rs108.35 per litre.
Social media users did not lose the opportunity to start a meme fest following the news.
The federal government has issued a notice to increase the price of petrol by Rs10.49 per litre. Apart from this, the price of high speed diesel (HSD) has been increased by Rs12.44 per litre.
The prices of kerosene and light diesel oil (LDO) have been increased by Rs10.95 and Rs8.84 per litre respectively. The new price of kerosene is Rs110.26 per litre and that of LDO is Rs108.35 per litre.
The federal government has issued a notice to increase the price of petrol by Rs 5.0 per litre and diesel by Rs 5.1 per litre, reported Geo News.
Apart from this, the prices of kerosene and light-diesel oil (LDO) have also been increased by Rs 5.46 and Rs 5.92 per litre, respectively. Now the new price for petrol will be Rs. 123.30 per litre, diesel will be 120.4 per litre, kerosene will be 92.26 per litre and LDO will be 90.69.
Earlier the price of petrol was increased by Rs 5 per litre in July.
According to Finance Minister, Shaukat Tarin the prices will be implemented from today (Thursday).
A newly-married couple in India received five litres of petrol as a gift at their wedding reception.
As per reports, a Tamil comedian named Mayilsamy gave an unusual gift to the couple. The images of the wedding ceremony and the gift have gone viral on social media platforms.
Mayilsamy went up to the stage to congratulate the newly-wed couple. He gifted them with two plastic cans filled with petrol. This gift was assumed to be Mayilsamy’s jibe at the increasing fuel prices in the country.
Read More: Ex-girlfriend shows up at wedding, groom marries both fiancée, girlfriend
Fuel prices had seen an all-time high across India when the rates were last hiked on July 17.
The government on Wednesday increased the petrol price by Rs2 per litre and high speed diesel (HSD) by Rs1.44 per litre, starting from today (July 1).
In addition, the prices of kerosene and light diesel oil (LDO) have been raised by almost Rs4, to Rs85.75 and Rs83.4 per litre, respectively.
Special Assistant to the Prime Minister for Political Communication Dr Shahbaz Gill in a tweet said that due to a price increase in the international market, the Oil and Gas Regulatory Authority (OGRA) had recommended an increase of Rs6.05. But Prime Minister Imran Khan rejected it and instead approved an increase of Rs2 per litre for petrol.
The government on Friday decided to increase the price of petrol and diesel by Rs3.20 per litre and Rs2.95 per litre, respectively, for the months of January and February.
The price of kerosene oil has been hiked by Rs3, while light diesel prices have been increased by Rs4.42, reported Geo News.
This is the second time that the government hiked the prices of petroleum products in a month. Earlier this month, there was an increase of Rs2.31 and Rs1.80 in the prices of petrol and diesel, respectively.
“While considering relief for the people, Prime Minister Imran Khan approved the minimum possible increase in prices of petroleum products against OGRA’s [Oil and Gas Regulatory Authority] recommendations,” a Prime Minister’s Office (PMO) press release had said at the time.
OGRA had sought an increase of Rs10.68 in petrol price and Rs8.37 in diesel price, whereas it asked the government to increase the price of kerosene oil by Rs10.92 and light diesel oil (LDO) by Rs14.87.
The price of Liquefied Petroleum Gas (LPG) had also increased earlier this month. According to OGRA, the LPG prices were raised by Rs16 per kg amid an increase in demand.
With the increase, the LPG cylinder for domestic users will be up by Rs188 and commercial users by Rs722.
It may be noted here that the consumers are already facing a shortage of gas nationwide and have to rely on LPG cylinders instead.
As consumers across the country face difficulties due to petrol shortage, the government is currently contemplating completely deregulating pricing and marketing of petrol.
According to a report published in Dawn, the government is considering doing away with uniform pricing of petrol and deregulating it in line with other petroleum products like hi-octane blending component (HOBC) which are already deregulated.
Recently oil marketing companies (OMCs) have come under severe criticism for their alleged collusive behavior that has seen the price of HOBC, to increase to Rs148-160 per litre.
While the government slashed petrol prices to Rs74 per litre in line with the decrease in international oil prices, no such reduction was seen in the price of HOBC.
According to the report, the government has also decided to deregulate the Inland Freight Equalisation Margin (IFEM) that currently ensures uniform prices throughout the country. As a result, consumers that are close to ports and refineries will be able to buy petroleum products at a cheaper price that may differ anywhere from Rs1 to Rs5 depending on the transportation cost.
Earlier, on June 4, the Competition Commission of Pakistan (CCP) had taken notice of public concerns and complaints about the shortage of petroleum products in the country and had initiated an inquiry to see whether such a shortage is the result of any anti-competitive activity.
The CCP’s inquiry will determine the possibility of the existence of any anti-competitive practices causing the shortage of fuel in the country and the undertakings involved in it.
The inquiry will further examine why the impact of the reduction in the prices of oil have not resulted in the corresponding reduction in the prices of the lubricants and other oil-based products, including the prices of hi-octane, which are primarily deregulated products.
Similarly, the Oil and Gas Regulatory Authority (OGRA) had also expressed its reservations last week regarding high prices of HOBC and had asked OMC’s to set prices at reasonable levels keeping in view the interests of the consumers.
Deputy Commissioner Peshawar Muhammad Ali Asghar has ordered that motorcyclists without a helmet would not be able to get petrol in Peshawar.
As per reports, action will be taken against owners of petrol stations if they violate the rule.
A similar rule was enforced in Rawalpindi a few weeks ago following the orders of the Lahore High Court. Deputy Commissioner (DC) Rawalpindi Dr Umar Jahangir had directed all petrol stations not to give petrol to bikers without a helmet.