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Pakistan PM Imran Khan approves price hike, now petrol at Rs 117.83/Litre

Pakistani Prime Minister Imran Khan might have brought down the price of the staple flat breads for his countrymen but he has approved the recommendation of the Oil and Gas Development Authority (OGRA) to increase petrol prices by Rs 5.15 per litre that will bring the cost to Rs 117.83 a litre.

The federal government increased the prices of all petroleum products for the month of August amid a slight reduction in the international crude price in a meeting held on Wednesday, as reported by Dawn newspaper.

The price of petrol was hiked by Rs 5.15 per litre, and Rs 5.65 increase was for High Speed Diesel (HSD). Similarly, the price of kerosene was increased by Rs 5.38 and Rs 8.9 for Light Diesel Oil (LDO).

Earlier on Tuesday, the regulatory authority had moved a summary to the government containing calculations on petroleum prices on the basis of higher general sales tax and petroleum levy.

According to an official, the crude price had dropped by more than 12 per cent in the Arabian Gulf to $63 per barrel on July 30 from $72 on April 28, but the government had been gradually increasing tax rates.


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