ISLAMABAD: Government on Wednesday approved an increase in the prices of petroleum products for the month of March, ARY News reported.
The price of petrol has been increased by Rs3.56 per litre, climbing to Rs88.07 from Rs84.51.
The price of diesel (HSD) was increased by Rs2.62 per litre, and will now be available for Rs98.45 as compared to earlier price of Rs95.83 per litre.
Light Diesel Oil (LDO) had been increased by one rupees to Rs65.30 per litre.
Furthermore, Superior Kerosene Oil (SKO) has increased an exorbitant increase of Rs6.28 per litre and will now be available for Rs76.46 from its earlier price of Rs70.18 per litre.
The Oil and Gas Regulatory Authority and Ministry of Energy had proposed increase in the prices of these products including a Rs6.94 per litre raise in the price of diesel but it was increased by Rs2.62 per litre only.
Both petrol and diesel are the most widely consumed petroleum products in the country, particularly in agriculture and transport sectors.
Keeping in view the possible repercussions of increase in fuel prices, analysts believe it would result in higher inflation since energy is the largest import and most consumed item of Pakistan.
