The government has announced an increment of up to Rs. 8.90 per liter in the prices of oil products for August.
The hike in prices was recommended by the Oil and Gas Regulatory Authority (OGRA) on Tuesday.
Following OGRA’s recommendation, the government has okayed an increase of Rs. 5.15 per liter for petrol, Rs. 5.65 per liter for High-Speed Diesel (HSD) and Rs. 5.38 per liter for kerosene oil, and Rs. 8.90 per liter for light diesel oil.
After the hike, the new price for petrol will be Rs. 117.83 per liter from the current Rs. 112.68, reflecting an increase of 5 percent. Another 5% increase was observed in HSD’s price which jumped from Rs. 126.82 to Rs. 132.47 per liter.
Similarly, the price of light diesel has gone up by 10 percent to Rs. 97.52 per liter from Rs. 88.62. Kerosene oil price registered an increase of Rs. 5.38 per liter, getting to to Rs. 103.84 per liter.
The new prices came into effect from first August.
Earlier, on Tuesday, OGRA in its summary had emphasized that the hike was inevitable due to currency depreciation and increasing oil prices in the international market.