Unexpectedly, the price of petrol has decreased. The government seems to have ignored OGRA’s recommendation to raise the price of all petroleum products earlier in the day. The government has decided to lower the petrol prices rather than raise it. Petrol is cheaper now!
New Petrol Prices:
Petrol now costs Rs. 267 as opposed to Rs. 272, a reduction of Rs. 5. Even though we are aware that the price difference is not substantial and will not have an impact on inflation, it is nonetheless something. The cost of diesel remains at Rs. 280 from before.
We hope that this price cut will last into the future and is not merely a stopgap before fuel costs skyrocket once more.
In Pakistan, the Oil and Gas Regulatory Authority (OGRA) suggested another increase in the price of petrol. According to media reports, the authority sent a summary of this to the federal government. The reports claimed that OGRA had sent the government two recommendations, citing sources.
First, a 2% and 5% General Sales Tax (GST) on petrol and diesel, respectively, as well as a 5–10% Petroleum Levy on diesel, have been proposed by the authority. Petrol will cost 5.44 rupees more per liter if the government imposes a 2% GST on it. Petrol prices will increase by Rs. 13.60 per liter starting tomorrow if the GST is 5%. Diesel price increases of Rs. 10 to 15 per liter have also been proposed.
Second, OGRA has proposed enacting new taxes in accordance with current market trends to maintain the price. Following discussions with the finance minister and prime minister, a final decision regarding fuel prices will be made.
Also, the motorcyclists request the government to launch a low ron, cheaper fuel for motorcycles only.