ISLAMABAD: The federal government has increased prices of petroleum products’ prices by up to Rs 4.75 from March 1 following the summary forwarded by the Oil and Gas Regulatory Authority (OGRA), ARY News reported.
A notification has been released regarding the implementation of new rates of petroleum products.
According to the notification, new rates of petrol will be Rs92.88 per litre after an increase up to Rs2.50.
High-Speed Diesel price will be Rs 111.43 after the hike of Rs 4.75 and Rs 4 increased for Kerosine Oil taking the new rates to Rs 86.31. Light Diesel stood at Rs 77.53 with the addition of Rs 2.50 against previous rates.
The notification will take into effect from March 1 (Thursday) at 12:00 midnight.
Earlier, the Oil and Gas Regulatory Authority (OGRA) in its summary to the government recommended up to Rs 9.4 hike in petroleum products prices.
Sources said the OGRA had forwarded its summary on petroleum prices on the basis of increased rates of general sales tax (GST) and petroleum levy.
The Ogra has proposed Rs9.44 a litre increase in high speed diesel (HSD) price, Rs4.71 in petrol, Rs8.06 in kerosene and Rs5.12 in light diesel oil (LDO) price.
If the proposal gets implemented, the HSD price will be Rs116.12 per litre, the petrol price will be Rs95.09 a litre, kerosene oil will be Rs90.37 a litre, LDO price will be Rs80.15 a litre.
Read More: OGRA recommends Rs4.5 per litre cut in petroleum prices next month
In January, the government had announced to reduce prices of petroleum products for February.
According to details, the price of petrol had been slashed by 0.59 paisas and new price was 90.38 rupees a litre.
Light Diesel price had been reduced by 0.25 paisas and is being sold at Rs75.03 a litre, while the price of Hi-Speed Diesel to remained unchanged.
The price of Kerosene Oil has been decreased by 0.73 and it is currently being sold at 82.25 rupees a litre.
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