Petrol, diesel prices raised
ISLAMABAD: the govt on Friday increased the worth of petrol by Rs3.20 per litre, diesel Rs2.95/litre, kerosene by Rs3/litre, and lightweight diesel fuel (LDO) by Rs4.42/litre for the second fortnight of January 2021.
The increase are going to be effective from today (Jan 16) till midnight of January 31. it's worth mentioning that Oil and Gas regulatory agency (Ogra) had recommended a Rs13.07/litre increase in petrol price, Rs11.03 in diesel, Rs10.55 in kerosene, and Rs15.33/litre increase in price of the LDO. But, the prime minister didn't accept this suggestion and allowed a rise of much but what the regulator had proposed.
After this decision, the petrol price has been increased from the prevailing Rs106/litre to Rs109.20/litre. Diesel price increased from the present Rs110.24/litre to 113.19/litre, kerosene price increased to Rs76.65/litre from earlier Rs73.65/litre, and LDO price increased to Rs76.23/litre from earlier Rs71.81/litre.
At the beginning of this month, the govt had increased petrol price by Rs2.31/litre, diesel Rs1.80/ litre, kerosene Rs3.36/litre, and LDO by Rs3.95/litre for the primary half this month.
It is worth mentioning that within the international market the Brent oil price has jacked up and almost reached the pre-COVID time. On Friday, Brent futures were recorded above $55/barrel. On January 05, it had been around $50.36/barrel, on January 13, it peaked at $57.38 and then , within the last two days, it decreased . Experts say that the fresh lockdown in Europe put brakes on the oil demand rebound.
Our correspondent adds from Lahore: The Pakistan Muslim League-Nawaz (PML-N) vice chairman Maryam Nawaz has rejected the hike in prices of petroleum products, saying that the worth of petrol has been increased for the second time this month.
On Twitter, she said that each day a replacement doomsday is being inflicted on the people within the mill of inflation. “You ask what the opposition wants? The opposition wants to save lots of the people from your torment. Should we sit reception and watch your atrocities on the people? Absolutely not!” she stated.
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