On Sunday, the government has announced to increase the petrol price by Rs2.70 per liter for the month of February.
According to the notification issued by the Prime Minister Office, the price of light diesel oil will also be increased by Rs3 per liter, while high-speed diesel will cost dearer by Rs2.88 per liter.
Petrol prices rose for the third time this month. Petrol price has increased by more than Rs 8 this month.
According to the details, Petrol will be increased from Rs 109.20 paise to Rs 111.90 paise. The new price of high-speed diesel will be Rs 116.07, and the new price of kerosene will be Rs 80.19
The new prices will take effect at midnight. The prices may undergo revision before 15th February.
Earlier, Oil and Gas Regulatory Authority (OGRA) had recommended to the government a hike of Rs 12 in the per liter prices of petrol from February 1st, 2021.
According to the details, a summary was sent to the federal government.
OGRA summary recommended an increase of Rs 12 per liter for petrol, Rs 10 per liter for diesel, Rs 7 per liter for kerosene oil, and Rs 5.5 per liter for light diesel oil.