The federal government on Thursday increased the price of petrol by Rs. 2.31 per litre and Liquefied Petroleum Gas (LPG) price by Rs. 15 per kg.
The price of petrol has been raised by Rs. 2.31 to Rs. 106 per litre from the existing Rs. 103.69. Meanwhile, the price of high-speed diesel (HSD) has been hiked by Rs. 1.80 to Rs. 110.24 from the current price of Rs. 108.44.
The price of kerosene oil has been pushed up by Rs. 3.36 per litre while the price of light diesel oil has been increased by Rs. 3.95 per litre.
The new prices will come into effect from 1st of January 2021.
In order to provide relief to the masses, Prime Minister Imran Khan partially rejected the summary of Oil and Gas Regulatory Authority (OGRA) which proposed to hike prices of the petroleum products by up to Rs. 10 per litre.
The OGRA had proposed a raise of Rs. 10.68 and Rs. 8.37 per litre respectively for petrol and diesel. However, only an increase of Rs. 2.31 and Rs. 1.8 per litre for petrol and diesel was approved.
Similarly, OGRA had recommended a raise of Rs. 10.92 and Rs. 14.87 per litre respectively for kerosene oil and light diesel, while only an increase of Rs. 3.36 and Rs. 3.39 per litre was granted to these commodities.
Liquefied Petroleum Gas (LPG) price has been increased by Rs. 15 per kg.
According to LPG distributors association, the price of domestic LPG cylinder has been increased by Rs. 180 and commercial cylinder by Rs. 692. LPG will now be sold at Rs. 147 per kg instead of Rs. 132.
The domestic cylinder will be sold at Rs. 1733 instead of Rs. 1,533 and the commercial cylinder will now be sold at Rs. 6667 instead of Rs. 5,975.
The new price will be applicable from January 1, 2021, after issuance of notification by Oil and Gas Regularity Authority (OGRA).
On the other hand, Chairman of LPG association has threatened to stop the supply of LPG from January 15 if the government does not take back all taxes imposed on gas.