ISLAMABAD: The government has hiked the prices of petrol and high speed diesel by Rs 2 and Rs 2.70 per litre respectively
However, the prices of kerosene oil and light diesel oil remained unchanged for December.
Finance Minister Ishaq Dar, while addressing a press conference, said the government had not increased the petrol products prices from last seven months, which reduced the tax collection of the Federal Board of Revenue.
On the direction of Prime Minister, the government has enhanced petrol price by two rupees per litre as against four rupees per litre recommended by Oil and Gas Regulatory Authority (Ogra), the finance minister said.
Price of high speed diesel has been increased by Rs2.7 per litre as compared to Ogra’s proposal of Rs5.42 per litre. Kerosene Oil and Light Diesel Oil prices have been kept unchanged for December 2016.
He further said that the government had decided to switch over from existing Petrol 87 RON to minimum 92 RON to ensure improved quality product for end users.
Petrol 92 RON is of a much higher quality and the new Ogra proposed price reflect the increase in international price as well as premium for a higher quality product.
