Petrol Pumps closed amid expected price hike

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The Oil and Gas Regulatory Authority (Ogra) has moved a summary to the Ministry of Finance regarding a revision in oil prices for the next two weeks, effective from August 1 to 16. The summary for rise in prices will be signed today.

Petrol Pump owners expecting hike in fuel prices have closed fuel selling in Punjab.

After a brief respite from rising oil prices, consumers may face a second hike in so many months with prices of petroleum products expected to rise by up to Rs7.73 per litre.

The filling stations closed petrol selling in Faisalabad like scores of other cities and towns in the country causing hardships to general public.

Under the decision, the prices of all products are expected to rise in the next two weeks. The price of CNG will also rise to maintain its 60% parity with petrol.

According to the summary submitted to the finance and petroleum ministries, Ogra has worked out an increase of Rs7.67 per litre in the price of petrol, Rs7.73 per litre in the price of HOBC, Rs4.49 per litre in the price of kerosene oil, and Rs4.59 per litre in the price of High Speed Diesel (HSD).

The new prices are expected to take effect after they are approved by Prime Minister Raja Pervaiz Ashraf on Tuesday (today).

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