The government has decided to increase the prices of petroleum products. Sources have reported that the price of petrol has gone up by Rs. 3.20 per liter, high-speed diesel (HSD) by Rs. 2.95 per liter, Kerosene Oil by Rs. 3.00 per liter and light diesel by Rs. 4.42 per liter. The new prices shall become effective from the 16th of January 2021.
Last time around, the prices were revised on the 1st of January 2021 following the decision. At that time, it was announced that Petrol would then be sold for Rs. 106 and HSD would be sold for Rs. 110.24 per liter. With the increase, the new prices will be Rs. 109.20 per liter for petrol and Rs. 113.19 per liter for HSD.
The price update has occurred exactly after 15 days, following the new policy agreed upon by the Oil and Gas Regulatory Authority (OGRA) and the petroleum division. For perspective, the prices of petroleum products in the international market are also turbulent at the moment, which, as stated by the source, also has an influence on the prices in Pakistan.