The government has knelt before private oil companies.Petroleum product prices hiked under pressure from oil companies, officials of petroleum and finance divisions set prices without OGRA’s knowledge.

Govt raises petrol price by nearly Rs26 citing 'global rise in ...

The petrol crisis has dropped. The government has knelt before the private oil companies. The increase in the prices of petroleum products was done under the pressure of the oil companies. The price of crude oil in the international market remained at 39 39 per barrel. Bought oil at 36 36 a barrel. In June, as the prices of petroleum products fell, the OMCs refused to supply petrol at these rates, which caused a problem of availability, and people were anxious.

The government had decided to increase the price to solve the problem of the availability of petrol. Generally, OGRA estimates the prices of petroleum products, but this time the officials of Petroleum and Finance divisions ignored the role of OGRA and secretly But the prices were set by him to ensure the supply of petroleum products. It might be recalled that the federal government had yesterday approved an increase in the prices of petroleum products, the price of petrol has been increased by Rs 25.58 per liter, and the price of high-speed diesel by Rs 21.31 per liter.

According to media reports, OGRA sent a summary of the increase in petroleum products’ prices to the Ministry of Petroleum. In summary, the price of petroleum increased by Rs 25.58 per liter. Similarly, the price of high-speed diesel has been increased by Rs 21.31 per liter, kerosene by Rs 23.50 per liter, and light diesel by Rs 17.84 per liter. After the increase in the prices of petroleum products, the new price of petrol has been fixed at Rs 100.10 per liter, light diesel at Rs 55.98 per liter, and kerosene at Rs 59.06 per liter.

Federal Minister Omar Ayub Khan has said that due to the rise in oil prices in the global market last month, petroleum products’ prices have gone up. Oil prices have risen sharply, while the Pakistani rupee has depreciated. Therefore, in comparison to the world market, the price of oil was going up to 31.58 per liter, while the government has increased the price of petrol by Rs 25.58 per liter. Similarly, the price of diesel was going up to Rs 24.31 per liter. Rs 31 per liter has been increased.

He said that on January 1, the price of petrol was Rs 116 per liter, while the price of diesel was Rs 127 per liter. On June 1, the price of petrol was reduced by Rs 42 and the price of diesel by Rs 47 per liter. He added that now the price of petrol has been increased by Rs 25 per liter, which is still Rs 17 per liter cheaper than January. The rate has been increased by Rs 21 per liter, which is still Rs 26 per liter cheaper than in January. Omar Ayub also compared the prices of petroleum products in different Asian countries with the rates in Pakistan.