Govt hikes kerosene by Rs3.42, light diesel by Rs2.19 per litre

Petrol and diesel prices will remain unchanged for the next two weeks

ISLAMABAD:

The Pakistan Tehreek-e-Insaf (PTI) government on Monday hiked tariffs of kerosene oil and light diesel oil (LDO) effective from today.

The government increased the price of kerosene oil by Rs3.42 per litre from the existing Rs80.19 to Rs83.61.

It also increased the price of LDO by Rs2.19 per litre from the existing Rs 79.23 to Rs 81.42.

The prices will be effective for the next two weeks under the fortnightly price review mechanism.

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However, the government did not make any change in the prices of petrol and high-speed diesel (HSD).

Agriculture and transport sectors use the HSD and therefore, the government's decision not to make any change in its price will have an impact.

The government has maintained its existing price of 116.08 per litre. It has also maintained the price of petrol at Rs 111.90 per litre.

The kerosene oil is generally used by poor in remote areas hilly areas for cooking purpose where Liquefied Petroleum Gas (LPG) is not available. The LDO is used in industries.

“The government has been absorbing the upward price fluctuation in the International market in order to provide maximum relief to the end consumer,” said a press statement issued by the Finance Ministry.

It said that despite very limited fiscal space, the government had decided that the prices of petrol and high speed diesel would remain the same.

However, the statement added, as no Petroleum Levy (PL) was being charged on kerosene oil and light diesel oil, therefore their prices have been marginally increased by Rs3.42 per litre and Rs2.19 per litre respectively due to a significant rise in the international prices of petroleum products.