The government has raised the price of petrol by Rs1.71 per litre, the premier’s aide on political communication, Shahbaz Gill, said on Friday.
According to Gill, the decision was made as per the recommendation of Oil and Gas Regulatory Authority (OGRA). Petrol will consequently cost Rs119.80 per litre, starting August 1. He 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.
Gill said that currently the government was collecting around zero tax on petroleum products. In a series of tweets, he said petroleum products witnessed only 11 per cent increase in Pakistan as compared to 47 per cent in the world. The average price of petrol in the world was $ 1.19 per litre but it was only $ 0.72 per litre in Pakistan.
Gill said as per data on July 26, petrol price in 140 countries was higher than Pakistan while in 27 its price was lower. It is worth mentioning, he said that petrol prices were lower in mostly those countries which were self- sufficient in petroleum products.
Meanwhile, Minister of State for Information and Broadcasting FarrukhHabib said on Friday that the new discovery of oil and gas at Kawagarh in Khyber Pakhtunkhwa would help meet ever-growing energy needs of the country.
In a series of tweets, he said it was the first discovery made by the Oil and Gas Development Company Limited (OGDCL) in C Block after drilling down to the depth of up to 4727 meter in near LakkiMarwat. The minister said the discovery would provide around 11 Million Standard Cubic Feet per Day (MMSCFD) of gas and 950 barrels oil per day to the country.
