Pakistan increases Petrol price by Rs2.70

ISLAMABAD – Petrol prices will go up by Rs 2.70 per litre from February 1, announced the government in a notification issued by the Prime Minister’s office on Sunday.

The price of light diesel oil will also rise by Rs 3 per litre and high speed diesel will go up by Rs 2.88 per litre. Kerosene oil price has also been upped by Rs 3.54 per litre.

The prices, which will go into effect from midnight, will remain unchanged for two weeks after which a revision can be expected by February 15.

A similar notification was issued on January 15 that remained in effect for the remaining two weeks of the month.

The Oil and Gas Regulatory Authority (OGRA) had proposed an increase of Rs 13.18 in petrol prices, Rs 12.12 and Rs 11.10 in prices of high speed diesel and kerosene oil respectively. The regulator also recommended the price hike of light diesel by Rs 6.62 per liter, effective from February 1.

However, considering the public interest, the prime minister approved an increase of Rs 2.70 per litre in petrol price, Rs 2.88 for high speed diesel, and Rs 3.54 and Rs 3.00 in the prices of kerosene oil and light diesel respectively.

After the increase, the new price for petrol is Rs 111.9, high speed diesel Rs 116.07, light diesel Rs 79.23, and kerosene oil is at Rs 80.19.