Islamabad (Dot Wheelz) Chairman OGRA hinted that petrol would become more expensive from March 1. A meeting of the National Assembly Standing Committee on Petroleum was held under the chairmanship of Imran Khattak. “We are considering lifting the ban on gas stocks,” he said. In response to a question on LNG shortages in the coming weeks, the Secretary Petroleum said that two LNG cargoes had been cancelled, one of which was canceled. The cargo was arranged but the tender was expensive.
Chairman Oil and Gas Regulatory Authority Sarwar Khan hinted at rising prices of petroleum products from March 1, saying that the rise in oil prices in 12 weeks was unprecedented and the rupee depreciated sharply against the dollar. The money that comes into the treasury is being compromised. If prices go up, the burden will fall on the people.
It should be noted that after the announcement of the Russian President to deploy a “peace force” in Ukraine, oil became expensive in the world market.
Global oil prices have reached close to $100 a barrel and London Brent crude has crossed the 99. 99 level. On the other hand, the aftershocks of increase in prices of petroleum products are continuing. Later in the market, the price of broiler chicken meat has gone up to Rs. 335 per kg while at retail level, the price of live chicken has gone up to Rs. 231 per kg.