Due to the rise in price of petroleum products in the international market, the Federal government has once again decided to increase the prices of both petrol and high speed diesel. Petrol will see an increase of Rs 2.25 pet liter whereas high speed diesel (HSD) will increase by Rs 2.26 per liter. However, prices of kerosene and light speed diesel will remain the same for now.
Revised Fuel Prices
Petrol prices will see an increase of Rs 2.25 liter and will be going from Rs 68.04 to Rs 70.29 per liter.
Prices of high speed diesel will increase by Rs 2.26 per liter and will be going from Rs 75.22 to 77.48 per liter.
Kerosene prices will stay at Rs 43.25 per liter.
Light diesel oil prices will also remain the same at Rs 43.35 per liter.
Finance Minister Ishaq Dar said on Tuesday that the price increase is only half of what was recommended by the Oil and Gas Regulatory Authority (OGRA). OGRA recommended an increase of Rs 4.16 per liter for RON 92 petrol, Rs 4.29 per liter for HSD, Rs 16.70 per liter for kerosene oil and Rs 12.53 per liter for LDO.
According to the Finance Minister, the prices of kerosene and LDO remain unchanged because kerosene oil caters to the energy needs of the poor, especially in the winter season. This aspect was taken into consideration that they were used by the low-income segment of the country’s population.
The prices of all petroleum products will be effective from 1st February to 15th February.