Govt Revised Petroleum Prices For August
As per the country’s tradition, the government of Pakistan has revised the petroleum prices for the second time this month. First, we had a petrol price hike of Rs. 1.71 per liter on the 1st of August. This time, the government has increased Kerosene Oil and Light Diesel Oil (LDO) prices, with no changes in the petrol and diesel prices.
As per the notification, the government has increased the Kerosene Oil price by Rs. 0.81 and Light Diesel Oil price by Rs. 1.10.
As per the old petroleum prices in Pakistan, petrol was at Rs. 119.80 per litre, diesel, light diesel, kerosene oil were at Rs. 116.53, Rs. 84.67, and Rs. 87.49, respectively.
After the government increased the petroleum prices, the new kerosene oil price has become Rs. 88.30, and the new light diesel oil price is Rs. 85.77.
The prices of petrol and high-speed diesel are the same, Rs. 119.80 and Rs. 116.53, respectively. The new prices are now in effect.
New Petroleum PricesFinally, a relief after four petrol price hikes!
Prior to this revision, we have had four consecutive petrol price hikes. First, the government increased the petrol price by Rs. 2.13 per liter on June 16, then by Rs. 2 per liter on June 30, then by Rs. 5.4 on July 15, and then by Rs. 1.71 on August 1.
This time, the Oil and Gas Regulatory Authority (OGRA) had recommended an increase in petrol price by Rs. 0.5, diesel price by Rs. 2.5, kerosene and light diesel oil prices by Rs. 1.0 each. However, the government has finally gone easy on the public, and kept the petrol and diesel prices unchanged, while slightly increasing the other two.
So, we can all take a sigh of relief for the next 15 days and see what happens after that. Will the next revision in the petroleum prices bring good news or take another shot on us?