Amid high levels of inflation in Pakistan, the country’s Oil and Gas Regulatory Authority (OGRA) has sent a summary to the Petroleum Division to revise the prices of petroleum products from June 1. Citing sources, Geo News reported that the OGRA has proposed an increase of Rs 4.30 per litre in the price of diesel, while a slight increase in the price of petrol and kerosene has also been suggested.
Petrol will continue to cost Rs 108.56 per litre, diesel Rs 110.76 per litre, kerosene oil Rs 80, and light diesel oil Rs 77.65 per litre until Monday.
However, the OGRA is proposing to maintain the price of light diesel, sources said.
On May 15, the government had decided to keep the prices of petroleum products unchanged for the remaining month of May.
Inflation in Pakistan skyrocketed to over 11 per cent amid a surge in food prices amid the Ministry of Finance’s failure to give a realistic and professional assessment of the increasing prices in its monthly reports.
The Consumer Price Index jumped to 11.1 per cent in April over the same month a year ago. It was the highest rate of inflation in the past 13 months. In February 2020, inflation had jumped to 12.4 per cent, reported The Express Tribune.
Inflation rate is significantly higher than the 8 to 9.5 per cent projection given by the Ministry of Finance four days ago in its monthly bulletin.
Already overburdened by inflation, increased oil prices, food items, Pakistanis were in for a shock when Federal Cabinet on Friday decided to increase the power tariff in three quarterly adjustments.
