Muristek
LAHORE: Soaring prices of petroleum products have led to a record increase in prices of construction materials, ARY News reported on Saturday.
According to details, the market dealers have raised the prices of construction materials after hike in prices of petroleum products.
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A cement bag will now cost Rs1200 after an increase of Rs360, the market dealers said. Meanwhile, the prices of gravel has been increased by Rs45 per square foot and will now cost at Rs130 per square foot.
Additionally, the market dealers have increased the price of sand trolley by Rs2,500 per trolley, which will not cost at Rs6,000. On the other hand, the price of steel has reached 0.205 million per ton after an increase of Rs35.
Sources have told ARY News that the prices of tiles and paint also witnessed an increase.
It is pertinent to mention here that the PML-N-led federal government had increased the price of petrol by Rs60 per litre.
Moreover, the Oil and Gas Regulatory Authority (OGRA) had also approved an increase in gas prices — a hike of 45% was approved for the Sui Northern Gas Pipelines Limited (SNGPL) while 44% for the Sui Southern Gas Company (SSGC).