The government is all set to increase the Petroleum prices by Rs 7.68 per liter from April 01 and after this increase petroleum prices would be at the highest level during last two years.
Reliable sources told Online that Oil and Gas Regulatory recommended the government to increase the oil prices. OGRA has recommended increasing the prices of petrol by Rs 7.68, High Octane Oil (HOBC) by Rs 7.35 per liter and Light speed diesel Oil (LDO) by Rs 2.79 per liter.
Sources added that prices of High speed diesel oil (HSDO) were also likely to increase to Rs 3.65 and prices of Kerosene oil would be increased to Rs 3.64.
After the recommendations of the National Assembly Special Committee on petroleum prices, government announced to provide subsidy on diesel but this remained a hollow slogan and prices of High speed diesel would be increased to Rs 1.
Sources further told that closure of Pak Arab Refinery Limited and 20 percent increase in the freight margin were the reasons behind this upcoming increase in the petroleum prices.
Experts believe that this increase from the April would increase the prices of basic life commodities as transport prices would increase after it.
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