The federal government has increased prices of petroleum products’ prices up by Rs2.50 from March 1 following the summary forwarded by the Oil and Gas Regulatory Authority (OGRA) recommending hike of Rs9.4, a private channel reported. A notification has been released regarding the implementation of new rates of petroleum products. According to the notification, new rates of petrol will be Rs92.88 per litre after an increase of Rs2.50.
High-Speed Diesel price will be Rs111.43 after the hike of Rs4.75 and Rs4 increased for Kerosine Oil taking the new rates to Rs86.31. Light Diesel stood at Rs77.53 with the addition of Rs2.50 against previous rates. The notification will take into effect from March 1 (Thursday) at 12:00 midnight. Earlier, the Oil and Gas Regulatory Authority (OGRA) in its summary to the government recommended up to Rs9.4 hike in petroleum products prices. Sources said the OGRA had forwarded its summary on petroleum prices on the basis of increased rates of general sales tax (GST) and petroleum levy.
Published in Daily Times, March 1st 2019.
