In response to the price change summery by Oil and Gas Regulatory Authority (OGRA), the finance ministry have made following changes to the prices of different petroleum items.
Petrol price was decreased by Rs. 0.25 per litter, Diesel Price was decreased by Rs. 2.40, light speed Diesel price was decreased by Rs. 2.90 and kerosene oil price was decreased by Rs. 0.90 or 90 Paisas Per litter.
Hence after all these changes the petroleum prices of December 2019 were set to figures as follows in Pakistani Rupees.
Light Speed Diesel: 82.43
Kerosene Oil: 96.35
What do you feel about these recent petroleum price changes?, do not forget to share your thoughts in comment section below.
Recently Pakistan Muslim League – Nawaz (PML-N) which is in government right now, seems to be punishing people for giving them heavy mandate. They have recently increased the prices of Electricity very much heavily along with price hike in petroleum prices.
Price of petrol have been increased by Rs. 4.12, which would now set new per liter price at Rs 113.25 from the previous Rs. 109.13. Similarly price of high speed diesel have been increased from Rs. 112.26 to 116.95 with increase of whooping Rs. 4.69 per liter. Price of High Octane Blending Component (HOBC) have also been increased by Rs. 5.57 to 143.90 per liter.
Not only this, the price of kerosene oil have been also increased, this is usually used in rural areas of Pakistan to cook food and keep warm. People of rural areas does not have other options and this oil is already expensive for them but government have hit them as well with increase of Rs 2.81 setting up new price above Rs. 100 mark which exactly is now 101.24.
Higher fuel prices directly impact people of Pakistan. As fuel prices hike directly increase the transportation costs of everything which in turn increases the cost of living. In country like Pakistan where major population group is in low income or even below poverty lines, these higher petroleum prices are not good at all. Government is even earning from these prices as its imposing petroleum levy (a tax) on all products from Rs. 6 to Rs. 17 per liter. On top of this levy government is also imposing 17% sales tax on each liter of all petroleum prices.
If PML-N led government want, they could bring down the prices of all petroleum products by at least Rs. 23 and above by just removing the extra taxes.
Do share your opinions via comments below. Do like us on Facebook and follow on twitter using options on right side of this page, to stay updated with latest/useful info from Pakistan.
Prices hit the top, may not be technically correct because you can expect more from current administration but one thing for sure, this is gonna be hurting the economy much more. Also unlike the last the last government which was giving subsidy this one is earning lots of bucks per gallon. If one is sure that the money is going into the national reserves and being used correctly this sounds much fair. But there is no info ever released where this all money going. Is it being used for the betterment of people of Pakistan.
The news here is that the petroleum prices increased, petrol price increased Rs. 6.10 per litter similarly prices of other products also increased similarly. Diesel which used to be half of petrol or even less reached on equal levels. Also the CNG load management plan is in effect which also makes the things worse.
The petroleum product sales hit the halt across the country when the petrol pumps stop selling in protest to the increased price. CNG already closed in some cities, people facing the real difficulties.
When the prices of fuel increase, the prices of each and every thing increases because of the increase in transportation costs, this price hike was totally unnecessary considering the fact that the government still getting profit on current price. The reasons told are the degradation in rupee value, again who is responsible for that? Certainly the current administration.