The federal government has increased the prices of petroleum products for the second time in a month by up to Rs4.42 per litre.
Prime Minister Imran Khan against the recommendation of Oil and Gas Regulatory Authority (Ogra) approved a nominal hike in the prices, Radio Pakistan reported on Friday.
However, it did not mention as to how much increase Ogra had recommended.
According to new prices, the petrol has been increased by Rs3.2 per litre from Rs106 to Rs109.2 and High Speed Diesel (HSD) will now be available at Rs113.19 per litre after an increase of Rs2.95 per litre.
The HSD is used in transport and agriculture sectors. Therefore, increase in its price would have an inflationary impact on the masses as it is widely used.
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Likewise, the government approved Rs3 per litre increase in the price of Kerosene oil to Rs76.65 per litre and light diesel oil (LDO) witnessed an increase of Rs4.42 per litre.
LDO will now be available at Rs76.63 per litre after new prices will come into effect from midnight tonight (Friday).
Kerosene is used in remote areas like the northern parts of the country for cooking purposes where Liquefied Petroleum Gas or Sui gas is not available.
The federal government had notified an increase of up to 5.8% in the prices of all petroleum products for the first half of January 2021 earlier this month. However, the increase was not in line with the recommendations of the Oil and Gas Regulatory Authority.
A massive increase of Rs16 per kilo was also witnessed in the price of liquefied petroleum gas (LPG) with the beginning of the new year. After the increase, LPG is being sold at Rs148 per kilo.