Daily Times

ISLAMABAD: Prime Minister Shahid Khaqan Abbasi on Wednesday approved an increase in the price of petroleum products.

Spokesperson to the Prime Minister Miftah Ismail, clarifying news relating to increase in the petroleum prices, said that the price for petrol has been increased by Rs. 2.98 per litre, whereas the price for High Speed Diesel (HSD) Oil has been increased by Rs. 5.92/litre as against the proposal of increase by Rs. 10.25/ltr.

The price of Kerosene oil has been increased by Rs. 5.94/ltr as against the proposed increase of Rs. 12.74/ltr, while the price of Light Diesel Oil has been increased by Rs. 5.93/ltr as against the proposed increase of Rs. 11.72/ltr, the spokesperson confirmed.

Miftah further clarified that the overall increase in international prices of crude oil has been around 8.07% with  HSD 8.68% and Kerosene Oil by 8.09%, while further adding that the government would absorb the additional burden due to increase in the oil prices internationally.

Regarding increase in prices, the spokesperson said the a rise in prices is due to an increase in international market, and that the government did not implement the change in price. He concluded that facilitation of the consumers is government’s top priority.