Tuesday, September 27, 2022
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The price of POL goods is expected to rise to Rs9.5 per litre

ISLAMABAD: Inflation in the nation, which is already at an all-time high, is set to rise even higher, squeezing the purchasing power of the bulk of the population, as the price of petroleum products is set to rise by Rs9.5 per litre from November 1.

The federal government dropped a petroleum bomb on October 1 by raising petrol prices by Rs10.49 per litre to Rs137.79 and high-speed diesel rates by Rs12.44 to Rs134.48 per litre.With those already struggling to pay their power bills, this hike will make it difficult, if not impossible, for them to make ends meet.

Also read: Ogra propose a petrol and diesel price increase: Sources

Sources in the Oil and Gas Regulatory Authority (Ogra) said due to the rise in crude oil prices in the global market and the historical devaluation of the rupee against the dollar, the prices of petroleum products are likely to rise further from November 1.

The sources said that the price of petrol is likely to increase by Rs8, high speed diesel by Rs9.5, kerosene oil by Rs7 and light diesel by Rs6.5 per litre from November 1.

The price of petrol in the country is currently at the highest level in the history of the country, due to which the government is facing severe public and political criticism. Ogra will send the final summary of changes in prices of petroleum products to the Petroleum Division on October 30.

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