ISLAMABAD – Finance Minister Ishaq Dar has announced an increase of in the prices of petroleum products.

“The Oil and Gas Regulatory Authority (OGRA) had forwarded a summary to the Ministry of Petroleum and Gas, seeking a Rs1.80 hike in the price of petroleum products,” Dar said at a press conference on Sunday.

The Ogra summary had proposed to increase price of kerosene oil by Rs12/liter, high speed diesel by Rs5/liter and light speed diesel by Rs10/liter.

However, according to the finance minister, the government has raised the price of Petrol by Rs1.77 only. Petrol will be available for Rs68.4 per litre.

The price of high speed diesel (HSD) has also been raised by Rs2.00 to Rs77.22 from Rs75.22 per litre, Dar added.

Revised prices of petrol and diesel will be applicable immediately after the finalization whereas those of high and light diesel will be valid from February 1.

The prices of kerosene oil and light diesel oil have been kept unchanged.