Petrol price up by Rs 1.70

ISLAMABAD: The government has increased the price of petrol by Rs 1.70 per litre following hike in global oil prices, effective from May 1, 2018 (today).

As per details, the consumers will face another price hike in petroleum products for the month of May as the government has upward revised the prices of  of petrol by Rs 1.70 per litre and High-Speed Diesel (HSD)  by Rs 2.31 per litre, while the price of Light Diesel Oil (LDO) has also been increased by Rs 3.55 per litre,  kerosene has been  hiked by Rs 3.41 per litre.

As per notification issued by the Finance Division, the new price of petrol is  Rs 87.70 per litre. The price of HSD has been increased to Rs 98.76 per litre and LDO at Rs. 68.85 per litre , while kerosene will be available at Rs 79.87 per litre.

While OGRA had proposed to increase Petrol price by Rs. 3.22 per liter, HSD by Rs. 5.02 per liter, SKO by Rs 6.97 per liter and LDO by Rs. 6.95 per liter.

However despite a tight fiscal environment, the Prime Minister declined to pass on the full impact of the increase in prices to the consumers and decided that the government will absorb almost 50% of the impact of increase,” the Ministry of Finance stated in a press release.