Petrol price raised by Rs25.58 citing ‘global rise in prices’
ISLAMABAD: The government ostensibly seems to have acceded to the will of cartel by increasing petrol price by Rs25.58 a litre in one go, rising the petrol price to over a hundred rupees a litre.
As per the notification issued by the Finance Division, the price of high speed diesel has gone up by Rs21.31, while the prices of kerosene and light diesel oil have been augmented by Rs23.50 and Rs17.84, respectively.
The opposition leader and Pakistan Muslim League-N President Shehbaz Sharif termed the rise in petroleum product prices ‘a mini budget before the budget’.
He said petrol price was raised at the time when the country was already facing shortage of it. He said after sugar cartel, petrol cartel have also been given license to loot citizens.
Normally, the Oil and Gas Regulatory Authority proposes new prices at the end of the month, however this time the government has cut prices overnight on the recommendation of the Petroleum Division.
Since March this year, the government slashed petrol prices four times resulting in an overall cut of about Rs42 a litre.