ISLAMABAD: The government on Tuesday hiked prices of petroleum products by more than Rs2 per litre.
Speaking at a news conference here, Finance Minister announced revised rates of petroleum products for the month of February.
The price of petrol was increased by Rs2.25 per litre, while that of diesel by Rs2.26 per litre.
The prices of kerosene oil and light diesel were maintained at Rs43.25 and Rs43.34 per litre respectively.
Dar said the government rejected OGRA's recommended hike in POL prices. "The government will provide Rs4 billion subsidy due to lesser hike in prices," he added.
OGRA had proposed an increase of Rs4.16 per litre for petrol, Rs4.29 for diesel, Rs16.71 for kerosene oil, Rs12.53 for light diesel oil and Rs12.47 for HOBC.
It is pertinent to mention that the government had increased the price of petroleum products on January 15.
The price of petrol was increased by Rs1.77 per litre while the tariff of high-speed diesel oil was increased by Rs2.
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