The petrol prices are likely to increase by Rs.9 before Eid. The government intends to increase the prices of the petroleum products by as much as Rs.12 per litre from the 1st of June.
OGRA—the Oil and Gas Regulatory Authority would be forwarding its summary suggesting the new rates on 30th May while the new prices would be put into effect from the 1st of June after the approval of the Prime Minister—Imran Khan, as per the reports of local media outlets on Tuesday.
The price of petrol might be surged by Rs.9.50, while the price of High-Speed diesel (HSD) might increase by Rs.11.5.
In the same way, the price of light diesel oil (LDO) is possibly to surge by Rs.7.85 while the price for kerosene may witness a surge of Rs.12 per litre.
It is said that rupee depreciation against dollar has heavily impacted on the prices of the high-speed diesel and petrol, while the increase in the remaining petroleum products would be because of the surge in the rates of crude oil.
Previously, the government of Pakistan Tehreek-e-Insaf gave the first petrol prices shocker to the public, by increasing the petrol prices by as much as Rs.10percent.