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- February 28, 2024
- Kainat Shakeel
- 0
Beginning on March 1, 2024, there will likely be a rise in the cost of gasoline and diesel in Pakistan for the ensuing two weeks. The decision was made amid worries about declining revenue and rising oil prices on the global market. Additionally, the Oil and Gas Regulatory Authority (OGRA) has provided a working suggestion in this regard. The price of high-speed diesel is forecast to stay the same for the next two weeks, but the price of gasoline is predicted to rise by Rs. 3.50 per liter, according to multiple reports. Meanwhile, the price of light diesel (LDO) and kerosene oil is predicted to rise by Rs. 1.00 per gallon.
The Oil and Gas Regulatory Authority (OGRA) has made these suggestions, but the Ministry of Finance will ultimately decide on the price of gasoline and diesel after consulting with the prime minister and taking into account several factors, including consumer impact, revenue shortfalls, and trends in the global market.
Before this, the federal government increased the cost of gasoline by Rs. 2.73 per liter and high-speed diesel (HSD) by Rs. 8.37 per liter, adding to the already burdened populace due to inflation. The new gas pricing will be revealed by midnight tomorrow, February 29, 2024.