Another bad news has emerged for inflation-stricken citizens, as a significant hike in petroleum product prices is expected from July 16. Petrol and diesel prices are likely to increase for the upcoming 15-day period, potentially adding further financial burden on consumers.
According to sources, the price of high-speed diesel is expected to rise by Rs. 5.27 per litre, while petrol may see an increase of up to Rs. 6.60 per litre. The oil industry has already submitted its initial working report on the prices to OGRA, which will forward the report to the federal government tomorrow.
A final decision on the price revision will be made after consultation between the Ministry of Finance and the Prime Minister. Although the price adjustments are usually based on the global crude oil price trends, the federal government holds the authority to increase or decrease the prices at its discretion.
The public is urging the government to take effective measures to control petroleum prices amid this wave of inflation to prevent further hardships in daily life.
