Petroleum products’ prices likely to go up by Rs.6 per liter from 1st April

ISLAMABAD: The federal government on Sunday announced to increase petrol price by Rs.6 per liter, ARY News reported on Sunday.

Prices of petrol and high-speed diesel have been increased by Rs. 6 per liter. While prices of kerosene oil and light diesel have been hiked by Rs. 3 per liter.

The new petrol price is Rs.98.89 per liter and high-speed diesel price Rs. 117.43 liter.

Similarly, light diesel oil price and kerosene oil price is Rs. 80.54 and Rs. 89.31 per liter.

The regulatory authority suggested the federal government for making an increase of Rs. 11.91 per liter in petrol rates from 1st April.

In the summary sent to Petroleum Division today, it was recommended to hike Rs11.17 per litre in high-speed diesel, Rs6.65 per litre on kerosene oil and Rs6.49 in light diesel.

Earlier on March 8, Finance Minister Asad Umar had said the sale prices of petroleum products were fixed in paisas along with rupee as per standard international practice.

In a written reply to the question of Senator Sitara Ayaz in the Upper House, the minister said the international oil prices were published and charged in respective currency along with fractions while exchange rate was also published in rupee with paisas.

He stated that the main aim of discontinuing the use of decimal coins was to facilitate the settlement of transactions in the economy.

Following the hike, new rates of petrol reached at Rs92.88 per liter after an increase the price of Rs2.50.

High-Speed Diesel price rose to Rs 111.44 after the hike of Rs 4.75 while Rs 4 increased for Kerosine Oil taking the new rates to Rs. 86.30. Light Diesel stood at Rs. 77.52 with the addition of Rs. 2.50 against previous rates.

The notification was taken into effect from 1st March 2019.