ISLAMABAD – On Wednesday Finance Minister Ishaq Dar approved an increase in prices of petroleum products effective from January 16 (tomorrow).

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The prices of petrol and diesel have been increased by Rs 1 per litre, while the prices of kerosene oil and light-speed diesel were not changed.

The Oil and Gas Regulatory Authority (Ogra) has proposed to hike prices of petrol and high-speed diesel by Rs 1.91 per litre and Rs 2.03 per litre respectively.

The authority has sent a summary to Ministry of Petroleum, seeking a raise in petroleum products. It has been asked to hike the price of kerosene oil price by Rs 16.71 per litre, light-speed diesel by Rs 12.53/litre.