Kerosene price surges by Rs70 in Pakistan 

The price of kerosene has witnessed another massive hike in Pakistan, as the government raised its price by Rs70.73 per litre.

According to a notification, the new price of kerosene stands at Rs428.74 per litre, effective from today. Previously, it was priced at Rs358.01 per litre.

Meanwhile, a separate notification has confirmed that the prices of petroleum products will remain unchanged. The Petroleum Division stated that petrol will stay at Rs321.17 per litre, while diesel will remain at Rs335.86 per litre.

The division said the decision to maintain prices was taken despite increases in the global market, with the government set to cover the price differential for oil companies.

As per the notification, Rs176.41 per litre will be paid for high-speed diesel and Rs77.98 per litre for petrol.

In his address to the nation, Prime Minister Shehbaz Sharif said the government fully recognises the burden placed on the public by the recent Rs55 per litre increase in petrol prices.

He added that the government will absorb the Rs24 billion impact resulting from the rise in petroleum product prices.