Wednesday, July 24, 2024

Government Plans to Increase Petroleum Prices Amid Power Tariff Hike

The federal government of Pakistan is gearing up to raise the prices of petroleum products following the recent hike in power tariffs.

According to sources, preparations have been completed to implement the price increases starting from February 29.

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It is anticipated that the price of petrol will rise by Rs4.50 per liter, while diesel may see an increase of Rs2.50.

Additionally, the price of Kerosene oil could go up by Rs2.92 per liter, while light diesel oil prices are expected to remain unchanged.

The current price of crude oil in the Brent oil market stands at $82.52 per barrel.

The Oil and Gas Regulatory Authority (OGRA) is set to submit a summary of the proposed price hike to the Ministry of Petroleum on February 29. The Finance Minister will announce the new prices after consultation with the Prime Minister, and these adjustments will be effective from March 1 to 15.

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Zayn
Zayn
Zain is a dynamic business student with a passion for technology that goes beyond the classroom. When he's not immersed in his studies, Zain can be found playing with the latest gadgets, fueled by a genuine curiosity for emerging tech trends. His love for technology extends to his avid reading habits, where he stays updated on the latest advancements and breakthroughs in the tech world. Despite his academic focus, Zain is also an outdoor enthusiast, always ready for an adventure. With several years of experience in writing news, Zain brings a unique blend of business acumen, tech-savviness, and journalistic expertise to any discussion or project.

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