BUSINESS/FINANCE
Petrol prices likely to increase by Rs2.75 per litre
The price of petroleum products in Pakistan is expected to rise by Rs2.75 per litre, as the Oil and Gas Regulatory Authority (OGRA) has prepared proposals aimed at increasing the profits of oil companies and petrol pumps.
Sources indicate that the proposal sent to the government includes an increase in the profit margin for oil companies by Rs1.35, raising it to Rs9.22 per litre. For petrol dealers, the proposed increase is Rs1.40, bringing their margin to Rs10.04 per litre.
Currently, the profit margin on diesel and petrol stands at Rs8.64 per litre.
As the government reviews these proposals, consumers may soon see an increase in their fuel costs, impacting transportation and overall living expenses across the country.
On Oct 1, the government announced a massive reduction in petrol and diesel prices for the next fortnight. According to a notification issued by the Finance Ministry, the price of petrol was reduced by Rs2.7 per litre, while high-speed diesel (HSD) saw a reduction of Rs3.40 per litre.