The Government dropped the petrol bomb. The Price of Petrol has been increased by Rs 5 per litre.
Islamabad: The government increased the prices of petroleum products by Rs.13. According to the details, the Federal Government has once again increased the prices of petroleum products. The price of petrol has increased by Rs 5, so the new price will be Rs 272 per litre. The new price of High-Speed Diesel has not changed while the price of Kerosene has been increased by Rs 2.56 and the new price will be Rs 190.29.
During trading in the world market, the price of British crude oil per barrel decreased by 6% to $72.80, while the price of American crude oil per barrel decreased by 6.39% to $ 66.77. Apart from the reduction in oil prices, the price of gas has also decreased by 6.5%, while the price of coal has also seen a significant decrease.
It has been reported that the oil prices in the world market have come to the level of December 2021 prices.
According to experts, the global economy, which was devastated by the Coronavirus, is now recovering.
It may be recalled that OGRA had proposed to increase the price of petrol by Rs 10.00 per litre. OGRA had prepared a summary to further increase the prices of petroleum products after a gap of 15 days.
Federal Finance Minister Ishaque Dar said that inflation will not go down due to global inflation. He told a press conference in Islamabad that global commodity prices are rising, so inflation is not down. This rising inflation trend will come down when the effects of Corona in the world will come down.
Minister said, “We have a database of low-income earners. We will provide targeted subsidies on flour, sugar and pulses to 40 per cent of the country’s population”.
It should be noted here that after the start of the Russia-Ukraine war, oil prices in the world market had reached the highest level of 130 dollars. Due to the record increase in the prices of crude oil in the world market, a wave of inflation and economic slowdown is being seen around the world. Due to the record increase in the prices of crude oil in the world market, Pakistan has also been badly affected, where the prices of petroleum products have increased by more than 120 rupees during the last year.