Petrol prices are up by Rs 1.77 per litre anHigh-Speeded Diesel by Rs2 per litre, Ishaq Dar
Ministry of Finance has announced hike in petrol prices by Rs 1.77 per litre and High Speed Diesel (HSD) by Rs2 per litre, for the next fortnight. Finance Minister Ishaq Dar briefed a news conference in Islamabad. He said that the prices of light diesel oil and kerosene will remain unchanged from tomorrow till 31st of this month.
He said that we are increasing petrol by one rupee and seventy seven paisa per liter while high speed diesel oil by two rupees per liter.
Ishaq Dar while supporting his statement said that had to be increased due to 43 percent increase in the prices of crude oil and petroleum products in the international market, although federal government will bear the burden of 2.75 billion rupees as subsidy for this period on petroleum products.
“Oil and Gas Regulatory Authority (OGRA) had proposed Rs 14.31 increase in kerosene oil, Rs 10.11 increase in light diesel oil, Rs3.94 increase in high-speed diesel oil and Rs 1.77 increase in petrol,” he added that that the prime minister has directed to provide maximum relief to the general public.
Federal minister further said in his media briefing that government has keep the petroleum prices quite stable from seven to eight months, while the ongoing change in the petroleum prices has been made due to the rise in international market.
Ishaq Dar told that the federal government had been successful in removing negative perception about financial instability.