The federal government is likely to increase the prices of petroleum products for the month of April.
According to sources privy to Petroleum Ministry, oil prices are expected to be raised by Rs3 per litre next month due to rising international prices.
If approved by the government, petrol price will go up by Rs2.10 per litre while high diesel price could be increased by Rs2.27 per litre.
In addition, high octane may be increased by Rs3.48 per litre, kerosene oil by Rs3.8 per litre and high speed diesel by Rs2.27 a litre.
This monthly topsy-turvy of fuel prices makes the people suffer on continued rising of prices in market, in complete disregard to the fall and rise in fuel prices. It should be made on a larger time-base, at least a quarterly review, for enabling the change duly transferred to the public. Under the existing system, the procedure in calculating and implementing the change in other market areas takes its own time and when they are ready to implement the change, the time for the next change becomes due and the chain reaction of change goes on without any results.
Oil prices should fall, possibly hard, in coming weeks. This is because fundamentals do not support the present price. A return to the grim reality of over-supply and the weakness of the world economy could push prices well into the $20s. http://oilprice.com/Energy/Energy-General/Oil-Fun…
I’ll right away grab your rss as I can not find your email subscription link or e-newsletter service. Do you have any? Please let me know in order that I could subscribe. Thanks.
Hi! Someone in my Myspace group shared this website with us so I came to take a look. I’m definitely enjoying the information. I’m bookmarking and will be tweeting this to my followers! Fantastic blog and great style and design.
Comments are closed.