The federal government has increased the price of kerosene oil by Rs. 70.73 per litre, bringing the new rate to Rs. 428.74 per litre, according to a notification issued by the Oil and Gas Regulatory Authority (OGRA) on Friday.
The revised prices have taken effect immediately. The federal government has attributed the increase to ongoing volatility in global petroleum prices, which has influenced local pricing.
Meanwhile, Prime Minister Shehbaz Sharif last night announced that the prices of petrol and diesel will remain unchanged for the current period.
In exchange, the government will cover the resultant Rs. 45 billion cost of providing this facility for next seven days.
The sharp increase in kerosene prices is expected to add financial pressure on households, particularly those dependent on it for cooking and heating in lower-income areas.
Kerosene oil is a combustible hydrocarbon liquid derived from petroleum, widely used for heating, lighting, and as jet fuel.
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Even after not increasing the price government is still cashing 15 rupees per liter on petrol and Diesel in petroleum levy.