Government hurls another fuel bomb at masses

By
fraaz
-
6
150

The government on Saturday once again increased the price of petrol by a staggering Rs 8.02 and that of diesel by Rs 4.70 per liter.Similarly, the price of Compressed Natural Gas (CNG) was also increased by 11.98 per litre.
A notification to this effect has been issued. After the rise, the revised price of petrol has jumped to Rs 105.68 a liter and that of diesel to Rs 108.16.
The price of light diesel went up by Rs 5.45 to Rs 99.69 per liter; HOBC by Rs 8.94 to Rs 135.81 and the rate of kerosene oil jacked up by Rs 5.29 to Rs 101.69 a liter.
The price of CNG has been raised by Rs 9.93 to Rs 80.97 per kilogram in Sindh and central Punjab, while its rate in Balochistan and Khyber Pakhtunkhwa and also in Islamabad and Rawalpindi has been increased by Rs 11.98 to Rs 89.10 per kg.
The revised rates of petroleum products will be effective from Sunday.
On the other hand, LPG price has come down by Rs 22 in the last two days.
Liquefied Petroleum Gas Distribution Association Chairman Irfan Khokhar said LPG distributors had decreased the LPG prices by Rs22 per kilogram throughout the country owing to a bearish trend in the international markets.
The new price has been set at Rs110/kilogram with effect from April 3, 2012.

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6 COMMENTS

  1. Media should report Summary put up to increase prices. This will help people understand whether or not price increase is justified. Only with full information can the public be educated of true background. Reporting without proper background can at best be called sensationalism.

  2. jiyeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee bhutto
    (rot in hell)

    • Petrol and Compressed Natural Gas (CNG) are the essential components of every economy. Pakistan’s economy being already under pressure in past few years; has been again hit by a sharp increase in fuel prices. The current ruling government increased the price of CNG from Rs. 35/Kg to Rs.89/kg and price of petrol from Rs.56/litre to Rs.103/litre in the span of last four years. By virtue of this decision, economy of Pakistan is in jeopardy. As CNG is the most consumed fuel, its rising prices have badly affected a huge number of consumers throughout the country. Keeping in view the above stated situation, discuss how this price hike will affect the consumers’ demand for CNG. Being a student of economics, suggest the measures to overcome this situation?

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