ISLAMABAD: The government has decided not to pass on the full impact of the rise in the prices of petroleum products in the international market, and increased the prices of petrol by just Rs 2.25 per litre and high speed diesel by Rs 2.26 per litre.
It is almost half of the increase that had been recommended by the Oil and Gas Regulatory Authority (OGRA), Finance Minister Ishaq Dar said on Tuesday while announcing the prices of petroleum products effective from February 1 to February 15.
The minister said that in line with the prime minister’s instructions for providing maximum relief to the common man, and keeping in view that kerosene oil and light diesel oil (LDO) were used by the low-income segments of the country’s population, it had been decided to maintain their prices at the current level until February 15. He said the fact that kerosene oil caters to the energy needs of the poor, especially in the winter season, was also taken into consideration. He said that in order to maintain the prices of both kerosene oil and LDO at current levels, the government would not only forego all applicable taxes and duties on them but would also give subsidy to the consumers.
He said the Ministry of Petroleum and Natural Resources and the OGRA had recommended an increase of Rs 4.16 per litre in the price of MS 92 RON petrol, Rs 4.29 per litre in the price of high speed diesel (HSD), Rs 16.71 per litre in the price of kerosene oil and Rs 12.53 per litre in the price of light diesel oil.
