Govt hikes petrol price by Rs2.70 per litre

ISLAMABAD: The federal government on Sunday increased the price of petrol by up to Rs2.70 per litre for the next 15 days of February 2021, according to a notification issued by the Ministry of Finance.

The prime minister approved Rs2.70 per litre increase on petrol and Rs2.88 per litre on diesel. The price of kerosene oil is increased up to Rs3.54 per litre while the rate of light diesel was jacked up to Rs3 per litre.

The Oil and Gas Regulatory Authority (OGRA) on Friday had proposed Rs12 per litre hike in petrol price from February 1.

The OGRA had proposed raising Rs10 per litre on high-speed diesel.

Sources prior to the matter told ARY News that OGRA has prepared its summary on the basis of a levy of Rs30 per litre. Currently, the levy on petrol is Rs21.56 per litre.

The new prices will come into effect from 12:00 am midnight.

The new petroleum prices from February 1, 2021, will be as follows:

Petrol: Rs111.90
Diesel: Rs116.07
Kerosene oil: Rs80.19
Light diesel oil: Rs79.23