ISLAMABAD: The government on Saturday announced a massive increase in the prices of all petroleum products with immediate effect for the next 15 days.
According to a notification issued by the Ministry of Finance, the prices of petrol and high-speed diesel (HSD) have been increased by Rs10.49 and Rs12.44 per litre respectively.
The price of kerosene oil has been increased by Rs10.95 while light speed diesel has got costlier by Rs8.84.
“At present, oil prices have risen around $85 a barrel (Global Benchmark Brent) highest since October 2018,” read the notification.
It added that entire energy chain prices have witnessed a strong surge in the past couple of months due to higher demand for energy spots and supply bottlenecks.
In the current scenario, the ministry said, the government has absorbed the pressure and provided maximum relief to the consumers by keeping Petroleum Levy and Sales Tax to a minimum. Therefore, prices worked out by OGRA have been approved.
The new prices of petroleum products will be effective from October 16 (today).
From October 16 (today), the new price of petrol will be Rs137.79 per litre, high-speed diesel will be Rs134.48 per litre.
While kerosene oil will be sold at Rs110.26 per litre and light diesel oil at Rs108.35.