ISLAMABAD: Government has decided to increase the petroleum prices in an effort to fulfill the commitments made to the International Monetary Funds. While the oil prices are going down globally, the government has jacked up the prices amid the volatile exchange rate.
A notification was issued late-night by the government which notified the price increase. Petrol price has been increased by Rs2.07/litre, high-speed diesel (HSD) by Rs2.99, light-diesel oil by Rs9.79, and kerosene by Rs10.92.
According to the finance ministry, the prices had been raised slightly in order to ensure that maximum relief is provided to the consumers. The new prices will remain effective for at least next two weeks.