Islamabad: The federal government announced on Friday that it will increase the price of petroleum products, increasing the price of gasoline by Rs 3.20 per liter.
The government has decided to revise the existing prices of petroleum products in view of the rising oil prices trend in the global market.
According to the notification, the price of petrol has been increased by Rs3.20 to Rs 109.20 per litre from its previous level of Rs106 per litre.
Price of High Speed Diesel (HSD) has been increased by Rs2.95 to Rs112.95 per litre, from its previous level of Rs110 per litre.
Moreover, the price of Light Diesel Oil (LDO) has been increased by Rs4.42 to Rs76.23 per litre, from its previous level of Rs71.81per litre.
Similarly, the price of Superior Kerosene Oil (SKO), has been increased by Rs3 to Rs76.65 per litre, from its previous level of Rs73.65 per litre.
The new prices are to be effective from January 16, 2020 for the next 15 days.
On Thursday, the Oil and Gas Regulatory Authority (OGRA) had recommended an increase in the price of petroleum products by up to Rs11.95 per liter.
In a summary sent to the federal government, OGRA had proposed hike in the price of petrol by Rs11.95 per liter and high-speed diesel by Rs9.57 per liter
Two weeks ago, the government raised the prices of petroleum products by nearly 2.31 rupees to share the impact of rising international prices with consumers.
Iranian Prime Minister Imran Khan refused to accept the summary of the request of the Oil and Gas Administration (OGRA) to increase the price of gasoline to 10.68 rupees per liter and increase the price of gasoline to 106 rupees per liter.