News

Rs10 hike in petrol price, Rs7 in diesel rate proposed

By News Desk

January 29, 2024 03:47 PM


Rs10 hike in petrol price, Rs7 in diesel rate proposed

Representational image

Twitter Share Facebook Share WhatsApp Share

The caretaker government is likely to increase the prices of petrol and high-speed diesel (HSD) in the upcoming fortnightly review on January 31, reported 24NewsHD TV channel on Monday.

The government adjusts fuel prices after every 15-day based on the recommendations of the Oil and Gas Regulatory Authority (OGRA).

Officials suggest that petrol prices could see an increase of Rs10 per litre and an increase of Rs7 in diesel price in the upcoming review. The expected hike follows a period of relative stability rather reduction in domestic fuel prices since November 01, 2023.

During two weeks, price of London Brent oil jumped to $83.35 per barrel from $78.29 per barrel. While American crude oil jumped from $73.25 to $78.40 per barrel. The announcement of hike in fuel prices is expected on 31 January, 2024.

Industry officials pointed out that global prices of petroleum products have increased in the last week due to events in the region, including Houthi attacks on ships in the Red Sea and subsequent strikes by the US and UK against them in Yemen.

 

Reporter Ashraf Khan


News Desk


Most Read

  1. Public Holiday announced in Lahore tomorrow Public Holiday announced in Lahore tomorrow
  2. Nazish Jahangir to hit any marriage proposal from Babar Azam out of the ground Nazish Jahangir to hit any marriage proposal from Babar Azam out of the ground
  3. Iranian First Lady visits Numl Iranian First Lady visits Numl
  4. Pakistan, Iran sign raft of accords to bolster bilateral cooperation Pakistan, Iran sign raft of accords to bolster bilateral cooperation
  5. Two patients die, injuries of 12 others multiplied after roof collapse at Gujrat hospital Two patients die, injuries of 12 others multiplied after roof collapse at Gujrat hospital
  6. Police fail to nail woman who ran car over Motorway cop more than 100 days ago Police fail to nail woman who ran car over Motorway cop more than 100 days ago

Opinion

  1. Islamabad becoming the hub of international diplomacy
    Islamabad becoming the hub of international diplomacy

    By Salim Bokhari

  2. Insights into the Pakistan Stock Exchange's Recent Record High Triumph
    Insights into the Pakistan Stock Exchange's Recent Record High Triumph

    By Zulfiqar Ali Mir

  3. IMEC to sabotage CPEC
    IMEC to sabotage CPEC

    By Dr Asif Channer

  4. 1947 TO FORM 47
    1947 TO FORM 47

    By Dr Asif Channer

  5. Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....
    Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....

    By Ali Ramay

  6. Global race: China will reduce its unnecessary expenses
    Global race: China will reduce its unnecessary expenses

    By Ali Ramay