ISLAMABAD: The federal government has revised prices of all petroleum products upward for the month of December in an announcement on Friday.
The prices were increased on recommendation of OGRA.
The petroleum ministry has enhanced the price of light diesel oil (LDO) by Rs3.12 per litre and that of kerosene oil by Rs4.39 per litre. The price of high-speed diesel (HSD) has been hiked by Rs1.36 per litre and petrol by Rs1.48 per litre, the government announced.
The new price of HSD has now been fixed at Rs85.95 per litre, while that of petrol is Rs77.47 per litre. The new price of kerosene is Rs57.58 per litre while the new price of LDO stands at Rs52.12 per litre.
The new prices have been come into effect from December 1.
It is worth mentioning here that the government had revised prices of petroleum products a month ago.
Last month, the government approved the OGRA recommendation about the increase in prices of various petroleum products, petrol price hiked by Rs2.49 per litre and diesel by Rs5.19. The prices of Kerosene Oil after a hike of Rs5.19 per litre went up to Rs53.19.
The upward revision in oil prices witnessed after crude oil prices in the global market witnessed an increase from $52 per barrel to $60 during the last month. In the wake of this trend of hike, the Oil and Gas Regulatory Authority (Ogra) had recommended an increase in the prices of petroleum products.