Islamabad: The prices of petroleum products are preparing to go up again. Government sources say that OGRA has prepared a fresh summary, which will be submitted to the Finance Ministry on October 31, and if approved, the new prices will come into effect from November 1.
Sources said that an increase of about Rs 2.35 per liter in the price of petrol and Rs 2.50 per liter in the price of high-speed diesel has been proposed. If this increase is approved, the public will face expensive fuel for the next fortnight.
Experts also say that if the international market remains stable, the increase in the next review can be limited; however, if the dollar and crude oil prices increase, the public may have to face more difficulties.
According to economic analysts, the increase in crude oil prices in the global market, import costs and the continuous weakening of the rupee against the dollar are the main reasons for the increase in prices. In addition, the situation has become more challenging due to the lack of reduction in the tax burden.
