ISLAMABAD: The government has revised the prices of petroleum products, with increase on petrol price by Rs1.77, for the next fortnight, ARY News reported.
Addressing a news conference in Islamabad on Sunday, Finance Minister Ishaq Dar said that the prices of light diesel oil and kerosene will remain intact from Monday till 31st of this month.
He said the price of petrol will be increased by Rs1.77 per liter and high speed diesel oil by Rs2 per liter.
Dar said that the government treasury will bear the burden of Rs2.75 billion as subsidy for this period on petroleum products.
He said that Oil and Gas Regulatory Authority (OGRA) had proposed Rs14.31 increase on kerosene oil, Rs10.11 increase on light diesel oil, Rs3.94 increase on high speed diesel oil and Rs1.77 increase on petrol.
The finance minister said that the prime minister has directed to provide maximum relief to the general public.
He said the prices of petrol and high speed diesel oil have been increased due to 43 percent increase in prices of crude oil and petroleum products at the international market. He said the increase at the international level has been absorbed by the government.
He said the government kept the prices of the petroleum products stable since April last year.