Petrol price to be raised Rs1.71 per litre on Aug 1

Prime Minister Imran Khan’s aide on political communication, Dr Shahbaz Gill, announced that the government has raised the price of petrol by Rs1.71 per litre, starting August 1.

According to Gill, the decision was made as per the recommendation of the Oil and Gas Regulatory Authority (OGRA). Petrol will consequently cost Rs119.80 per litre.

Gill said that it was decided that the rate of high-speed diesel be kept constant, as a hike in this commodity impacts the “common man and farmers more”. Thus, diesel will continue to be priced at Rs117.53 per litre.

Similarly, no change has been made to the price of light diesel oil.

Meanwhile, Kerosene, starting August 1, will cost Rs0.35 dearer, at Rs85.75 per litre.

It was rumoured that OGRA recommended a Rs1.71 per litre increase in the price of petrol and a Rs2.27 per litre increase in the price of diesel.

Gill asked the nation to “bear in mind” that the majority of the 27 countries that have petrol prices lower than the rate in Pakistan are “self-sufficient in petroleum products”.

“At this time, the government is collecting a nearly zero per cent tax on petroleum products,” Gill said, adding: “Right now, the whole world is in the grip of inflation due to corona.”