Govt announces hike in prices of petroleum products

ISLAMABAD: The federal government on Thursday green-lighted a hike in prices of petroleum products for a fortnight, reported ARY News.

The government approved a Rs5.40 per litre hike in the price of petrol, Rs2.54 in that of high speed diesel (HSD), and Rs1.27 per litre increase in the price of light diesel.

It approved an increase of Rs1.39 per litre in the rate of kerosene oil. The new rates will be effective from July 16.

READ: OGRA RECOMMENDS RS11 PER LITRE HIKE IN PETROL PRICE

Earlier, the Oil and Gas Regulatory Authority (OGRA) prepared a summary seeking an upward revision of fuel prices. The regulator recommended an increase in petrol price by Rs11.50 per litre.

The authority suggested an increase of Rs2.40 per litre in the price of high-speed diesel, Rs1.50 in the price of kerosene oil and Rs1.40 in light diesel.