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Govt hikes petroleum products prices on new year’s eve

ISLAMABAD: The government on Sunday announced hike in petroleum products prices on the eve of new year, ARY News reported.

The new price of petrol will be Rs81.53 a liter after increase of Rs4.6, said Prime Minister’s Advisor on Finance Miftah Ismail.

“The petrol prices are climbing up in the global markets, yet the rates in Pakistan are lesser than in India, Bangladesh and Turkey,” he said while announcing revised rates of petroleum products.

Read More: Govt increases petrol prices by Rs1.48 per litre for December

PM Shahid Khaqan Abbasi approved increase in the petroleum product prices on recommendation of Oil and Gas Regulatory Authority.

High-speed diesel will be available for Rs89.91 a liter after increase of Rs3.96,

The price of kerosene oil has also been increased by Rs6.74, while light diesel has been increased by Rs6.25 taking it to Rs58.37 a liter.

The revised prices will take effect from 12am tonight.

Read More: PPP announces countrywide protest against hike in petrol, diesel prices



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