By Staff Reporter
ISLAMABAD: Pakistan’s government raised the price of high-speed diesel by 3.1 percent on Friday, but left petrol prices unchanged, as global oil prices rose in the past two weeks.
Finance Minister Ishaq Dar said the government had decided to increase the price of high-speed diesel, widely used in transport and agriculture sectors, by Rs7.5 to Rs260.50 per litre.
The price of petrol, used mainly in cars and motorcycles, was kept at Rs262 per litre, the minister told a news conference.
Dar said the Oil and Gas Regulatory Authority (Ogra) had reported a $3.5 increase in diesel prices and a similar rise in petrol prices in the international markets since June 15.
He said the government had tried to pass on the minimum possible price increase to consumers as per the prime minister’s instructions, and had absorbed some of the impact of higher oil prices.
“On June 15, we did not increase any prices except light diesel oil. Today also, we have not increased the price of petrol,” Dar said. “However, because there has been a lot of negative movement and increase in prices for diesel, they (Ogra) have recommended the government to do a minimum increase of 7.5 rupees in the price of diesel.”
The price of light diesel oil was increased by Rs2.52 to Rs150.20 per litre from Rs147.68.
The new prices will be effective from midnight on July 1.
Pakistan imports about 80 percent of its oil needs and is vulnerable to global oil price fluctuations.
Copyright © 2021 Independent Pakistan | All rights reserved
