Overview
Following the lead of petrol, the Oil and Gas Regulatory Authority (OGRA) made a decision to raise the price of (LPG) liquefied petroleum gas by Rs. 60 per kg. The existing administration backed down in the face of mounting demand to raise LPG prices.
According to the authority’s announcement, LPG is going to be charged at a set rate of Rs. 264 per kilo. Additionally, the price of a residential cylinder has risen from Rs. 703 to Rs. 3115. While the price of commercial cylinders increased by Rs. 2706 in February, the current price is Rs. 3115.
Ishaq Dar’s statement on Oil and Gas Increasing
In addition to the rise in fuel prices, Ishaq Dar announced a jump in kerosene and light diesel oil prices by Rs18. Following the lifting of the unofficial dollar limitation, the Pakistani rupee fell to a historic low against the dollar, leading to this volatility.
The Oil and Gas Regulatory Authority (OGRA) suggested an Rs. 83.5 increase in fuel prices a few days ago. The administration decided to raise the price in stages. However, it is the highest gasoline price ever.
According to Ishaq Dar, prices did not rise once in the four months from October to January 29. He went on to say that at this time, fuel and diesel prices really fell by Rs19 or Rs20.
