Government approves hike in petroleum prices by Rs4.39

LAHORE: The government on Thursday revised prices of petroleum products, increasing the price of petrol by Rs 1.48 per litre.

The government has approved an increase of Rs 1.48 per litre in petrol price, Rs 1.36 in diesel price, Rs 4.39 litre in kerosene oil and Rs 3.12 in the price of light-speed diesel (LSD).

Effective from December 1, petrol will be sold at Rs 77.47, Deisel at Rs 85.95, light-speed diesel at 52.12 and Kerosene oil at 57.58.

Profit earlier reported that in wake of the surging international crude oil prices OGRA recommended a price hike in local petroleum prices.

The Oil and Gas Regulatory Authority (OGRA) on Wednesday recommended a hike of Rs 1.48 per litre in the price of petrol following the rate fluctuation in the global market, it was learnt on Wednesday.

It is worth noting that last month upon OGRA’s proposal the government revised prices of petroleum products, increasing the price of petrol by Rs 2.49 per litre, high-speed diesel (HSD) by Rs 5.19 per litre, light-speed diesel (LSD) by Rs 3 per litre and the price of kerosene oil by Rs 5.19 per litre for November.

This is the second time the government has increased petroleum product prices in the last 40 days.