Govt hikes petrol, diesel prices by more than Rs2 per liter

ISLAMABAD: The federal government has increased prices of petroleum products by more than Rs2 with effect from 1^st February (today) till midnight on 15th February, ARY News reported.

Minister for Finance Senator Mohammad Ishaq Dar said the government has been decided to increase the price of MS 92 RON petrol by Rs. 2.25 per litre, while the price of High Speed Diesel (HSD) is being increased by Rs2.26 per litre. These increases are almost half of the increases recommended by OGRA for both MS 92 RON petrol and HSD.

The minister said that Ministry of Petroleum & Natural Resources and Oil & Gas Regulatory Authority (OGRA) had recommended an increase of Rs4.16 per litre in the price of MS 92 RON petrol, Rs4.29 per litre in the price of HSD, Rs16.71 per litre in the price of kerosene oil and Rs12.53 per litre in the price of Light Diesel Oil (LDO), with effect from 1st February2017.

The minister said viewing that kerosene oil and LDO is used by the low income segments of the country’s population, the government has decided to maintain the prices of kerosene oil and LDO at the current level. The government will provide subsidy for these products.