Our Correspondent
ISLAMABAD, 28 Feb (TNT News): The federal government has increased prices of petroleum products’ prices by up to Rs 4.75 from March 1 following the summary forwarded by the Oil and Gas Regulatory Authority (OGRA).
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 up to Rs2.50.
High-Speed Diesel price will be Rs 111.43 after the hike of Rs 4.75 and Rs 4 increased for Kerosine Oil taking the new rates to Rs 86.31. Light Diesel stood at Rs 77.53 with the addition of Rs 2.50 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 Rs 9.4 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.
The Ogra has proposed Rs9.44 a litre increase in high speed diesel (HSD) price, Rs4.71 in petrol, Rs8.06 in kerosene and Rs5.12 in light diesel oil (LDO) price.
