Business

Govt to hike petroleum prices in January

ISLAMABAD: The government has prepared a ‘new year gift’ for consumers with two rupees per litre likely hike in petroleum prices from coming January, ARY News reported on Wednesday.

The government has decided to hike 1.28 rupee per litre in the price of petrol, while high speed diesel (HSD) price will be increased by 1.31 rupee per litre, sources said.

The price of HOBC will increase by two rupees per litre, kerosene oil by 1.46 rupee per litre and light diesel by 1.46 rupee per litre, sources said.

According to sources, the Oil & Gas Regulatory Authority (OGRA) will forward the summary regarding the hike in the prices of petroleum products, to the Ministry of Petroleum by December 29.

It is pertinent to mention here that the government had also increased the petroleum prices by two rupees per litre in the past month.

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