Govt increases petrol and diesel prices by Rs30 per litre

ISLAMABAD (92 News) - The government has increased the petrol and diesel prices by Rs30 per litre.

Addressing a press conference on Thursday, Finance Minister Miftah Ismail said that the new prices will be applicable from tonight.

He said that they cannot get the IMF programme without increasing the prices of POL products. "It was a very difficult decision to burden the masses with the increase. We have faced a loss of Rs55 billion during 15 days," he maintained.

He said that the poor and rich are benefitting from the subsidy on petrol.

The minister said that the prices of light-speed diesel and kerosene oil would also be increased by Rs30 per litre. "We are facing inflation due to policies of the previous government," he added.

He said that the oil price in the international market today is US$117 per barrel.