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Petroleum prices hike by Rs. 8.14 at midnight

Petrol prices are increasing constantly. The new price of petrol has increased to RS. 209 which is historically high. Today the government announced a new price hike for all types of fuel including petrol.

Just a day after Prime Minister Imran Khan announced a historic relief package for the people and warned of a further hike in petrol prices, the government increased the prices of petroleum products by up to Rs 8.14.

The notification of an increase in prices of petroleum products was issued by the Finance Division at around 1.30 pm.

According to the notification, the price of petrol increased by Rs 8.03 from Rs 137.79 to Rs 145.82.

In addition, the price of High-Speed ​​Diesel (HSD) was increased by Rs 8.14 paise, after which the new price of HSD reached Rs 142.62 paise.

In addition, the price of kerosene was increased by Rs6.27 paise while the price of light diesel oil (LDO) was increased by Rs5.72 paise, after which kerosene was now priced at Rs116.53 paise and LDO at Rs114.7. Will be available in cash.

It may be recalled that the government had refused to increase petrol prices on November 1 after 15 days as usual and in this regard, a statement issued from the Prime Minister’s Office said that the Prime Minister had raised the prices of petroleum products in the interest of the people. Decided to retain to provide relief.

However, just four days later, the government issued a notification raising prices

Just two days earlier, the Prime Minister had launched Pakistan’s ‘largest welfare program in history’ under which a relief package of Rs 120 billion was announced for 20 million families.

At the same time, however, he warned the public that global oil prices had risen by 100 percent, which would force the government to raise petrol prices, failing which the country’s deficit would rise further.

The notification issued by the Finance Division said that on November 1, the Prime Minister had not agreed to the encroachment of OGRA and the Finance Division and had directed to maintain the rates on October 16.

The notification added, however, that it was important to mention that some of the main concerns regarding the October 16 prices, such as short cost recovery, were cash flow issues.

At the same time, it was claimed that significant relief had already been provided to consumers in previous prices of petroleum products.

The notification said that the prices of petroleum products have been partially increased because if the government had accepted OGRA’s proposals, the new prices would have been much higher.

It may be recalled here that the government had on October 16 increased the prices of petroleum products by up to Rs. 100 was exceeded.

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