ISLAMABAD: The government on Saturday announced a massive hike in prices of all petroleum products with immediate effect for the next 15 days.
According to the notification issued by the Finance Ministry, petrol and high speed diesel (HSD) prices have been increased by Rs 10.49 and Rs 12.44 per liter respectively.
Kerosene has gone up by Rs 10.95 while light speed diesel by Rs 8.84.
Read the notification, “Currently, oil prices have risen by about $ 85 a barrel (Global Benchmark Brent), the highest since October 2018.”
He added that over the past two months, the entire energy chain has seen a sharp rise in prices due to high demand for energy spots and supply disruptions.
In the current scenario, the ministry said, the government has absorbed the pressure and provided maximum relief to consumers by keeping petroleum levy and sales tax to a minimum. Therefore, the prices prepared by OGRA have been approved.
The new prices of petroleum products will be applicable from October 16 (today).
From October 16 (today), the new price of petrol will be Rs 137.79 per liter and high speed diesel Rs 134.48 per liter.
Kerosene will be sold at Rs 110.26 per liter and light diesel at Rs 108.35.