New prices take effect tonight.
The petrol price hit a record high on Wednesday when the federal government increased the prices of petroleum products by up to Rs5.92. In a rare move, the government has hiked the price of petrol beyond what was recommended by the Oil and Gas Regulatory Authority (OGRA).
OGRA had recommended an increase of Re1 for petrol, according to reports on Tuesday. However, the government has pushed up the petrol price by Rs5.
A notification was issued on Wednesday night, and the new prices have taken effect from 12 am on Thursday.
The prices of other petrol products have also seen a considerable uptick. The high-speed diesel (HSD) increased by Rs5.0, the light diesel by Rs5.92 and Kerosene oil by Rs5.46.
In terms of ex-depot prices, petrol will now cost Rs123.3, high-speed diesel Rs120.04, light diesel Rs90.69, and Kerosene oil Rs92.26.
The ex-depot price usually differs from the price at the pump and motorists may have to pay a little more.
Earlier, OGRA proposed an increase that ranged from Re1 to Rs10.5 for different products. It proposed an
In the past, the price hike has almost always been less than what OGRA recommended. This is the first instance when the government has gone beyond OGRA advice, burdening consumers with additional four rupees.
After the unexpected hike, motorists and motorcyclists form long queues at filling station to get petrol before the new price took effect. Some people took to Twitter to comment on the situation and share pictures.