The prices of petroleum products have been increased by the federal government for the month of January. The government has given a gift to the people on New Year ’s Eve by increasing the price of petroleum products.
Thanks, but no thanks, dear government.
Anyway, the price of petrol has been increased by Rs2.61. The new price of petrol will be Rs116.60 per litre. This is as per a notification issued by the Finance Division.
The price of high-speed diesel has been increased by Rs2.25. The new price of high-speed diesel is Rs. 127.26 per litre.
The price of light diesel is increased by Rs2.08. The new price of light diesel is Rs84.51 per litre. The price of kerosene has been increased by Rs3.10. Its new price is Rs99.45 per litre.
The Oil and Gas Regulatory Authority (Ogra) earlier recommended an increase in the prices of petroleum products ranging from 1.8 percent to a maximum of 3.2pc for January 2020.
The Finance Division could have made the decision of not changing the petroleum product prices as a good gesture of the New Year instead of raising the prices and giving the people another pretext to criticize the government.
Now the new increased prices approved by the government will be effective from January 1st, 2020.
In an earlier article, we told our readers that on the pattern of the National Electric Power Regulatory Authority (Nepra), the government is planning to launch an independent Pakistan Petroleum (Exploration and Production) Regulatory Authority (PPEPRA). The aim is to define policy and the regulatory functions for the upstream sector and attract investment in order to develop a resource base.