Govt Hikes Prices of Petrol and Diesel Despite Falling Global Prices

The federal government has announced a slight increase in the prices of petroleum products.  The price of petrol has been increased by Rs. 1.35 per liter to Rs. 248.38 while the price of high-speed diesel has been increased by Rs. 3.85 per liter to Rs. 255.14. The new prices will be effective from November 1. In a brief statement, the finance ministry said the new consumer prices have been worked out by Oil and Gas Regulatory Authority (OGRA) based on the price variation in the international market.  However, the government has cut the price of kerosene by Rs. 1.48 per liter to Rs. 161.54, while the price of light diesel oil has been slashed by Rs. 2.61 per liter to Rs. 147.51. At the last fortnightly review of petroleum prices, the price of petrol was kept unchanged at Rs. 247.03 per liter while the price of high-speed diesel was increased by Rs. 5 per liter to Rs. 251.29.