ISLAMABAD: The highest increase in petroleum prices has been made in the history of the country. According to the notification issued by the OGRA, the price of petrol has reached Rs 86.66 per litre after an increase of Rs 10.97.
Source : Notification issued on price increase in petroleum products - GEO.tv
Re: Highest Increase in Petroleum prices
This news is pretty confusing, cause JANG is saying 7.2 RS, and then other channels are mentioning 10.97. Anyhow this is pretty pathetic to see this kind of increase. Where in real the price of crude oil has dropped in the world.
Secondly, Pakistan has not paid to Saudi Arabia about 5.9 Billion USD since last year. So apparently Pakistani nation has paid the govt, but hte govt has not paid KSA the money. Now the question is that where is that money????
There are lot of screwups in thei petrol system of Pakistan.
If rupee kept falling like autumn leaf, they cant control the price hikes of anything. this hike is mainly due to de valuation of rupee as there is no un exacted surge in already high prices of oil.
Re: Highest Increase in Petroleum prices
A long debate is required to understand Pakistan’s petroleum policy and system.
None of the country buy petrol on daily usage policy. Crude is bought well in advance. Usually 2-3 months. I fail to understand, that if the prices have dropped in the past week or so , then how come Pakistani govt has increased the price. on top of that our petroleum minister said yesterday that govt is giving 50 RS subsidy on petrol which will be removed eventually.
75+50 means 125 RS. Is this is the petrol price in the world right now. Beats me to any level.
is this rise of petroleum prices a unique phenomenon in pakistan?
haven’t petroleum prices gone up worldwide?
or is the level of incease in pakistan much higher compared to the rest of the world
Re: Highest Increase in Petroleum prices
Pakistan's ogre aka OGRA knows to adjust prices only upwards, they have seldom revised prices downwards.
Does anybody have numbers on what was the US$/per barrel price for the last Rs/liter price in Pakistan?
is this rise of petroleum prices a unique phenomenon in pakistan? haven't petroleum prices gone up worldwide? or is the level of incease in pakistan much higher compared to the rest of the world
comparing level of increase with other regions is not as straight forward. There is significant cost involved in shipping fuel to long distances. Oil prices in Pakistan should be compared to India, because both get oil from the same source and are about the same distance.