The federal government decided to alter the petroleum prices for fifteen days on Tuesday, reported Dunya News. The prices of petrol and diesel have been increased amid hike.
The finance minister Ishaq Dar told that petrol prices have been raised by Rs2.25 which makes it Rs70.29 per litre. Moreover, the new price of high speed diesel is Rs79.48 per litre after a hike of Rs2.26. Having said that, the government has decided to retain the prices of light diesel and kerosene oil which are currently Rs43.34 and Rs.43.25 per litre respectively.
Ishaq Dar affirmed that the government has altered prices of petroleum products for fifteen days. The government is expected to provide a subsidy of PKR 4 billion. It must be noted that Oil and Gas Regulatory Authority (OGRA) had recommended a summary of raising petroleum prices to the ministry of Petroleum during yesterday. The recommended price hike per litre in petroleum prices were; petrol Rs4.15, high speed diesel Rs4.30, kerosene oil Rs16.70, light speed diesel Rs12.15 and HOBC Rs12.50.