Oil & Gas Regulatory Authority (OGRA) has announced new prices for petroleum products on July 22, Wednesday, increasing the rates of both petrol and high-speed diesel.
According to the notification, the price of petrol has been increased by Rs6.39 per litre. The price of high-speed diesel has become Rs7.83 per litre more expensive.
According to the notification, the new price of petrol has been fixed at Rs 327.12 per litre. Similarly, the new price of diesel has been fixed at Rs 375.4 per litre.
It has been stated that the new prices of petrol and diesel will be for July 23.
Petrol pump strike postponed
After successful talks with the government, the Petrol Pump Owners Association and the Petroleum Dealers Association announced that they have postponed their strike.
Petrol pump owners withdrew their strike call scheduled for 12:00 AM tonight, while the dealers’ association also called off its planned strike from 6:00 AM.
Petroleum Minister Ali Pervaiz Malik thanked the All Pakistan Petrol Pump Owners Association and other dealers’ associations for their cooperation.
He said the regional situation since February 28 has been a cause of concern. He added that Prime Minister Shehbaz Sharif is aware of the problems faced by the public and said tensions in the region remain high.
Sources in the Petroleum Division said the federal government will not increase dealers’ profit margin to 8 per cent.
The minister said the government has already provided subsidies worth hundreds of billions of rupees.
He added that a targeted subsidy system has been introduced and thanked oil refineries and petroleum organisations for their support.
Ali Pervaiz Malik said the issue of dealers’ profit margins will be discussed with all stakeholders.
He said a summary on the matter will be sent to the federal cabinet. He also said the government and petroleum organisations will review daily fuel pricing again after two weeks and continue working together.
Petroleum Owners Association Information Secretary Nadeem Khan said the government has assured dealers that their profit margin will be increased. He expressed hope that the issue would be resolved within the next two weeks.
