The government has approved an increase in the prices of kerosene and light diesel oil (LDO) while the prices of petrol and high-speed diesel remain the same.
The Oil and Gas Regulatory Authority (OGRA) had recommended a price hike of Rs. 0.5 per liter for petrol, Rs. 1 per liter for kerosene and LDO, and Rs. 2.5 per liter for high-speed diesel in its summary. However, as per a notification from the Ministry of Finance, the government has only approved a price hike of Rs. 0.81 per liter for kerosene and Rs. 1.10 per liter for LDO.
The new prices of Rs. 88.30 per liter for kerosene and 85.77 per liter for LDO are effective from today (16 August).
Meanwhile, the prices of petrol and high-speed diesel will remain unchanged at Rs. 119.80 per liter and Rs. 116.53 per liter respectively.
Prior to this, the government had increased the prices of petroleum products twice in July and once in the first week of August owing to the surging prices of petroleum products in the international market.
Conversely, the price of Brent in the international market had declined by seven dollars in July.