Govt raises price of petroleum products

Published: February 28, 2019
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OGRA recommends massive increase in prices of all petroleum products. PHOTO: REUTERS/Lee Jae-Won

OGRA recommends massive increase in prices of all petroleum products. PHOTO: REUTERS/Lee Jae-Won

ISLAMABAD: The government on Thursday approved a partial increase in prices of petroleum products from March 1.

Oil and Gas Regulatory Authority (Ogra) suggested a hike in the price of petroleum products – notably that of diesel by Rs9.44 per litre and petrol by Rs4.71 per litre.

The regulator also recommended the price of kerosene oil be raised by Rs8.06 per litre and light diesel oil (LDO) by Rs5.12 per litre.

The government, however, decided to increase the price of petrol and high speed diesel by Rs 2.50 per litre and Rs 4.75 per litre respectively.

Diesel is widely used in agriculture and transport sectors and therefore an increase in its price would affect the life of the common man owing to a higher impact of inflation.

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Petrol is an alternative fuel of CNG in vehicles.

The price of high-speed diesel and petrol will stand at Rs111.43 and Rs92. 88 against Rs106.88 and Rs90.38 per litre respectively.

The government also hiked price of Kerosene oil by Rs4 per litre and Light Diesel Oil by Rs2.50 per litre.

The prices of these two petroleum products have been increased from Rs82.31 to Rs86.31 and Rs75.03 to Rs77.53 per litre respectively.

Kerosene is used for remote areas like northern parts of the country for cooking purpose where LPG was not available. The LDO is used for industrial purposes.

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