Labour Day gift: Govt soars petroleum prices by 3 to 7 percent

Dropping another bomb shell on the inflation stricken people, the government has increased the petroleum products prices by 3 to 7 percent per liter.

According to details, the Oil and Gas Regulatory Authority (OGRA) has increased the petroleum prices and notification has been issued in this regard. New rates would be applied after 12 midnight. The petrol price has been increased by Rs1.94 to Rs75.08 per liter and Light Speed Diesel by Rs3.56 to Rs. 65.76 a liter..

The price of High Speed Diesel has been raised by Rs3.41 , taking the price to Rs76.80 a liter. The HOBC price raised by Rs1.63 and new price is Rs Rs89.19 while Kerosene Oil price now stands at Rs. 68.89 after an increase of Rs. 4.08

Earlier, most cities across the country witnessed fuel shortages as petrol pump owners have created an artificial shortage of the commodity for windfall profits after reports spread that petroleum prices are going up.

Even before an official notification was issued regarding an increase in petroleum prices, petrol stations across the city suspended supply to consumers, creating difficulties for several motorists.

Long queues of motorists were witnessed at the city’s petrol pumps, but were disappointed when they were turned back empty handed. Reportedly, motorists even argued with the pump management at some stations. Petrol pumps’ managements suspended oil supply and had displayed notices regarding temporary suspension of petrol. Some pumps were selling petrol at exorbitant rates.

Some motorists said the government was making peoples’ lives difficult by revising oil prices every fortnight. According to the reports, POL prices will be increased from Rs 5 to Rs 7.

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