ISLAMABAD: On Thursday, the government jacked up the petroleum prices by Rs14.85 per litre. In the last two months, this is the third time government has hiked prices on petroleum products.
After the recent increase, the new prices will be:
Petrol: Rs248.74 per litre (from Rs233.89)
High-Speed Diesel: Rs276.54 per litre (from Rs263.31)
Kerosene Oil: Rs230.26 per litre (from Rs211.43)
Light Diesel Oil: Rs226.15 per litre (from Rs207.74)
According to the government, if the prices were not increased, it would have to pay Rs1.2 trillion annually for subsidies. The coalition government added that PTI tenure did not raise prices. As a result, the gas sector went under a circular debt of Rs1.4 trillion.