Government increases petrol price by Rs4.26 per litre

F.P. Report

ISLAMABAD: The federal government has increased the prices of petrol and diesel by Rs 4.26 and Rs 4.5 per litre respectively for the month of June, on Friday night.

The new petrol and high speed diesel prices will be Rs112.68 and Rs126.82 per litre respectively, as per the notification issued by the Ministry of Finance.

Meanwhile, the prices of kerosene oil and light diesel saw an increase of Rs1.69 and Rs1.68 per litre respectively. Kerosene oil will now coast Rs98.46 a litre while light diesel will be sold at Rs88.62 per litre.

The new prices will be applicable from 12:00 am tonight.

Earlier on May 29, around Rs 12 per litre hike in prices of petroleum products was expected before Eid, cited sources.

The Oil and Gas Regulatory Authority (OGRA) had forwarded its summary regarding new rates of petroleum products to the ministry.

The government was likely to hike the prices by as much as Rs 12 per litre from June 1st. The OGRA summary proposing new rates would take effect from June 1st after approval by the prime minister.

According to the prices recommended in the summary, the rate of petrol might be increased by Rs 9.50 per litre, while high-speed diesel (HSD) might go up by Rs 11.5. Moreover, the price of light diesel oil (LDO) wold likely to hike by Rs 7.85 while kerosene might see a rise of Rs 12 per litre.