Govt absorbs 50pc impact, increases petrol prices only by Rs1.7 per liter

ISLAMABAD: The government Monday increased the prices of petrol only by Rs1.70 per liter, absorbing almost 50 percent of the impact of increase in petroleum products proposed by the Oil and Gas Regulatory Authority (OGRA).

“Despite a tight fiscal environment, the Prime Minister declined to pass on the full impact of the increase in prices to the consumers and decided that the government will absorb almost 50 percent of the impact of increase,” said a press statement issued here by Finance Ministry.

Accordingly, the price of petrol has been increased by Rs1.70 per liter, High Speed Diesel (HSD) by Rs2.31 per liter, Superior Kerosene Oil (SKO) by Rs3.41 per liter and that of Light Diesel Oil (LDO) by Rs3.55 per liter.

Following this change in prices, the new prices of the petrol would be Rs87.7 per liter, HSD Rs98.76 per liter, SKO Rs79.87 per liter and LDO Rs68.85 per liter.

According to the statement, OGRA had proposed increase in the prices or petrol by Rs3.22 per l iter, HSD by Rs5.02 per liter, SKO by Rs6.97 per liter and LDO by Rs6.95 per liter.