POL prices likely to be up by 8%

ISLAMABAD – The government has decided to give a New Year gift of price hike in petroleum products, according to a report. “The prices of petroleum products will be increased from 4 to 8 percent from first January,” the report said.

According to sources, OGRA did not increase prices of petroleum products despite the price hike of crude oil at international market as Prime Minister Syed Yousaf Raza Gilani prevented it. While the government stance is that OGRA is independent institution and the government has no role in the reshuffling of petroleum products. However, the government has now allowed OGRA to increase prices in the context of increasing prices of crude oil at international markets – DailyMailNew