Petroleum prices to be increased from 4 to 8 percent

ISLAMABAD: The government has decided to give gift of price hike in petroleum products, after power inflation to people on the advent of New Year. The prices of petroleum products will be increased from 4 to 8 percent from first January.

According to sources, OGRA did not increase prices of petroleum products despite the price hike of crud oil at international market as Prime Minister Syed Yousaf Raza Gilani prevented it. While the government stance is that the OGRA as independent institution and the government has no role in the reshuffling of petroleum products.

However, the government now allowed the OGRA to increase prices in the context of increasing prices of crud oil at international markets. So the prices of petroleum products would be increased to 4% to 8% on December 31, which would be affected from midnight of December 31 and first January.

According to Online sources, it is expected that the price of diesel will be more increased. It may be noted that the crud oil prices rose to ninety dollar per barrel at international markets.

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