Govt revises prices of petroleum products

ISLAMABAD (92 News) – Finance Minister Ishaq Dar has on Sunday announced an increase in the prices of petroleum products. Addressing the press conference in Islamabad on Sunday, he said that the prices of light diesel oil and kerosene will remain intact from tomorrow till 31st of this month. He said the price of petrol will be increased by Rs 1.77 paisa per liter and high speed diesel oil by Rs 2 per liter. Dar said that the government treasury will bear the burden of Rs 2.75 billion as subsidy for this period on petroleum products. The minister said that OGRA had proposed Rs 14.31 increase in kerosene oil, Rs 10.11 paisa increase in light diesel oil, Rs 3.94 increase in high speed diesel oil and Rs 1. 77 increase in petrol. Ishaq Dar said that the Prime Minister has directed to provide maximum relief to the general public, adding that the prices of petrol and high speed diesel oil have been increased due to 43 percent increase in prices of crude oil and petroleum products at the international market. He said the government kept the prices of the petroleum products stable since April last year. He said the increase at the international level has been absorbed by the government.