The government has declared a huge increase in the prices of all petroleum products with sudden effect for the coming 15 days.
As per a notification released by the Ministry of Finance, the prices of petrol and high-speed diesel (HSD) have gone up by Rs10.49 and Rs12.44 per litre respectively.
The price of kerosene oil has risen by Rs10.95 while light speed diesel has got expensive by Rs8.84.
“At present, oil prices have risen around $85 a barrel (Global Benchmark Brent) highest since October 2018,” read the notification.
It further stated that entire energy chain prices have seen a solid rush in the past couple of months as a result of higher demand for energy spots and supply bottlenecks.
In the present situation, the ministry said, the government has immersed the pressure and delivered maximum relief to the consumers by keeping Petroleum Tax and Sales Tax to a lowest. Consequently, prices worked out by OGRA have been agreed.
The updated prices of petroleum products will be in effect from October 16 (today).
From October 16 (today), the new price of petrol will be Rs137.79 per litre, high-speed diesel will be Rs134.48 per litre.
However kerosene oil will be retailed at Rs110.26 per litre and light diesel oil at Rs108.35
