Govt absorbs int'l price-hike, raises petrol price by Rs 5.4 only.

ISLAMABAD -- Absorbing the increasing oil prices in the international market and to provide relief to the masses, the government on Thursday raised petrol price by just Rs 5.4 per liter effective from July 16 for next fortnight.

The Oil and Gas Regulatory Authority (OGRA) had recommended Rs11.50 increase in per liter petrol, however the Prime Minister, considering to provide maximum relief to the public allowed only Rs5.4 liter increase, said a press statement issued by the Finance Ministry here.

In this way, the government observed Rs6.10 price hike in the commodity, it added.

'The government has been providing maximum relief to the consumers by reducing the price of the petroleum products since April 2021,' it added.

The statement said that although the international oil prices have been on rise, the government took the decision not...