(INP):The already burdened general public is bracing for yet another blow as petroleum product prices are poised to witness a substantial hike over the upcoming weekend. An unveiled proposal suggests that petrol and diesel prices may surge starting September 16.
A working paper has been crafted, outlining the adjustments in petroleum product prices. According to this document, it is recommended to raise the prices of petroleum products by Rs20, effective from September 16, as per insider sources. This proposal entails an increase of Rs20 per liter for petrol, Rs14 per liter for high-speed diesel, Rs10 per liter for kerosene oil, and Rs9 per liter for light diesel, the sources revealed.
Additionally, the proposal seeks to raise the ex-refinery price of petrol by Rs13.5, which would elevate the ex-refinery price from Rs228.59 to Rs242.10. Diesel may see an ex-refinery price increase of Rs13 per liter as well, according to the same sources.
If the tariff increase receives approval, it would translate to a jump in petrol prices from Rs305.36 to Rs321.35 per liter, and high-speed diesel prices from Rs311.84 to Rs325.50 per liter. The Oil & Gas Regulatory Authority is expected to present the working paper to the government by tomorrow evening. Subsequently, the Ministry of Finance will issue a notification following the interim prime minister’s approval. However, it’s worth noting that the government retains the authority to maintain current price levels.
