Petrol jacked up by Rs3.2 per litre, light diesel by Rs4.42.

Byline: Fawad Yousafzai

ISLAMABAD -- The Federal government on Friday increased the prices of Petrol and HSD by Rs3.20 and Rs2.95 per litre respectively for the remaining two weeks of January, 2021.

According a notification of Finance Division the prices of all the petroleum products have been increased for the remaining month of January. The price of petrol increased by Rs 3.20 per litre, High Speed Diesel (HSD) price by Rs 2.95 per litre, kerosene oil (SKO) by Rs 3 per litre and Light Diesel Oil (LDO) by Rs 4.42 per litre, said the notification.

After the increase of Rs. 3.20 per liter the new rate of Petrol will be Rs. 109.20 per liter, while HSD price has been hiked by Rs. 2.95 per liter bringing the new rate to Rs. 113.19 per liter. Prices of Kerosene oil and LDO have been increased by Rs. 3 per liter and Rs.4.42 per liter respectively bringing new rates to Rs. 76.65 per litre and Rs. 76.23 per litre.

The government claimed that it did not pass on full impact of oil prices internationally and exchange rate on the general public as recommended by Oil and Gas Regulatory Authority (OGRA).

An official source told The Nation that following the directives of the government Oil and Gas Regulatory Authority had calculated the oil prices on the basis of Rs 30 per litre Petroleum levy instead of the existing Rs 22.85 per litre on Petrol and Rs 24.38 per litre on HSD. The regulator had proposed Rs 13.07 per litre increase in petrol price which include Rs7.15 inflated...