Addressing a news conference on Sunday in Islamabad, Finance Minister Ishaq Dar announced that the prices of petrol and high-speed diesel (HSD) will see a price hike. Petrol will see an increase in price of Rs 1.77 per liter whereas HSD will increase by Rs. 2 per liter.
However prices of light diesel oil (LDO) and kerosene will remain intact till the 31st of this month.
Petrol prices will see an increase of Rs 1.77 per liter and will be going from Rs. 66.27 to Rs. 68.04 per liter.
High-speed diesel will be seeing an increase of Rs. 2 per liter. It will come at Rs. 77.22 per liter all the way from Rs. 75.22 per liter.
Kerosene oil prices will remain the same at Rs. 43.25 per liter.
Light diesel oil will also remain at the same price, which is Rs. 43.35 per liter.
Finance Minister Ishaq Dar said that the Oil and Gas Regulatory Authority (OGRA) had earlier proposed a Rs. 14.31 increase in kerosene oil prices, Rs. 10.11 increase in light diesel oil, Rs 3.94 increase in high-speed diesel and Rs. 1.77 increase in petrol.
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He further stated that the Prime Minister has directed to provide maximum relief to the public. The prices of petrol and high-speed diesel have been increased due to the 43 percent increases in prices of crude oil and petroleum products in international market.
Dar said the government kept the prices of the petroleum products stable since April last year and that the increase in the international level has been absorbed by the government.