Eid Gift: The government announce an increase in prices of petroleum products.

Under pressure from the Finance Ministry, the government has decided to increase the prices of CNG and petroleum products even before the Eid holidays are over despite an announcement made by the Adviser to the Prime Minister on Petroleum, Dr Asim Hussain, on Aug 13 that petroleum prices would not be increased during August as an Independence Day gift to the nation.

The new prices will be implementable after midnight on Thursday, according to a notification. It was earlier announced that the prices of petroleum products would be kept unchanged for now.Sources in the Petroleum Ministry said the petrol price would go up by Rs3.21 per litre to Rs96.78 from Thursday. The new price of HOBC, with an increase of Rs4.85, is Rs125.01 per litre and of kerosene Rs96.35 with an increase of Rs3.52.
The rate of CNG for Region One, Potohar, Balochistan and Khyber-Pakhtunkhwa, has been raised by Rs3.21, setting the new price at Rs88.61/kg. The CNG price for Region Two, Punjab and Sindh, has increased by Rs2.68 bringing it up at Rs80.94/kg.

This step is taken because of increasing the oil/petroleum in the international market.  
With this increase, the CNG prices will reach their highest ever level.