LAHORE: Soaring prices for petroleum products have led to a record rise in prices for building materials, ARY News reported on Saturday.
According to the details, the market dealers raised the prices of construction materials after the rise in the prices of petroleum products.
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A bag of cement will now cost Rs1200 after an increase of Rs360, market dealers have said. Meanwhile, gravel prices have been increased by Rs45 per square foot and will now cost Rs130 per square foot.
Moreover, market dealers have increased the price of sand cart by Rs2,500 per cart which will not cost Rs6,000. On the other hand, the price of steel has reached 0.205 million per ton after a hike from Rs35.
Sources told ARY News that tile and paint prices have also increased.
It is pertinent to mention here that the federal government led by the PML-N had raised the price of petrol by Rs 60 per litre.
In addition, the Oil and Gas Regulatory Authority (OGRA) had also approved an increase in gas prices — a 45% hike was approved for Sui Northern Gas Pipelines Limited (SNGPL) and 44% for Sui Southern Gas Company (SSGC).