ISLAMABAD: Contrary to the recommendation of Oil and Gas Regulatory Authority (OGRA) for a bigger increase in prices of petroleum products, the federal government has increased petrol price by Rs1.70 per liter from May 1st, 2018.
A notification of the Finance Ministry said, “OGRA had proposed increase in the price of Petrol by Rs. 3.22 per liter, HSD by Rs. 5.02 per liter, SKO by Rs 6.97 per liter and LDO by Rs. 6.95 per liter.”
However despite a tight fiscal environment, the Prime Minister declined to pass on the full impact of the increase in prices to the consumers and decided that the government will absorb almost 50% of the impact of increase,” the ministry added in the notification.
Accordingly, the price of petrol has been increased by Rs.1.70 per liter, high speed diesel by Rs.2.31 per liter, kerosene oil by Rs. 3.41 per liter and that of light diesel oil by Rs. 3.55 per liter.
The new price of petrol will be Rs.87.70 per liter, HSD Rs. 98.76 per liter, SKO Rs. 79.87 per liter and LDO Rs. 68.85 per liter as also indicated in the table below.
The new prices will be effective from 1st of May 2018 till midnight on 31st May 2018.
