Govt jacks up petrol price by Rs12 per litre

ISLAMABAD: The federal government on Tuesday increased the prices of petroleum products by up to Rs12 per litre effective from February 16, ARY News reported.

According to the notification issued by the finance ministry, the ruling Pakistan Tehreek-e-Insaf (PTI) government has increased petrol price by Rs12.03 per litre, high-speed diesel by Rs9.53 per litre and the price of light diesel was jacked up by Rs9.43.

The price of Kerosene oil also increased by Rs10.08 per litre, according to the notification.

 

After the increase, the new price of petrol is fixed at Rs159.86 per litre, HSD Rs154.15. The price of Kerosene oil increased from Rs115 to Rs126.56 and light diesel oil from Rs114.54 to Rs123.97.

The new prices will come into effect from Wednesday midnight (February 16) for the upcoming 15 days.

The Oil and Gas Regulatory Authority (OGRA) today sent a summary to the PM Office summary, seeking increase in petroleum prices from February 16.

According to sources privy to the development, the regulator recommended an increase in petrol price by Rs12 per litre.

Read: PETROL, DIESEL PRICES TO STAY UNCHANGED AS PM REJECTS HIKE PROPOSAL

The authority also suggested an increase of Rs9.53 per litre in the price of high-speed diesel.

On Jan 31, the federal government had deferred a decision on the proposed increase in prices of petroleum products for the next 15 days.