ISLAMABAD: The federal government has increased prices of petroleum products by Rs 4.75 from March 1 following a summary forwarded by the Oil and Gas Regulatory Authority (OGRA), ARY News reported.
A notification has been released regarding the implementation of new rates of petroleum products.
According to the notification, new rates of petrol will be Rs92.88 per litre after an increase up to Rs2.50.
High-Speed Diesel price will be Rs 111.43 after the hike of Rs 4.75 and Rs 4 increased for Kerosine Oil taking the new rates to Rs 86.31. Light Diesel stood at Rs 77.53 with the addition of Rs 2.50 against previous rates.
The notification will take effect from March 1 (Thursday) at 12:00 midnight.
Earlier, the Oil and Gas Regulatory Authority (OGRA) in its summary to the government recommended up to Rs9.4 hike in petroleum products prices.
Sources said the OGRA had forwarded its summary on petroleum prices on the basis of increased rates of general sales tax (GST) and petroleum levy.
The Ogra had proposed Rs9.44 a litre increase in high speed diesel (HSD) price, Rs4.71 in petrol, Rs8.06 in kerosene and Rs5.12 in light diesel oil (LDO) price.
If the proposal gets implemented, the HSD price will be Rs116.12 per litre, the petrol price will be Rs95.09 a litre, kerosene oil will be Rs90.37 a litre, LDO price will be Rs80.15 a litre.
Read More: OGRA recommends Rs4.5 per litre cut in petroleum prices next month
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