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ISLAMABAD: The caretaker government on Wednesday increased the per-litre price of petrol by Rs13.55 and that of high-speed diesel (HSD) by Rs2.75 for the next fortnight ending Feb 15, citing higher international market and import premiums.<\/p>\n
The government has also raised the price of liquefied petroleum gas (LPG) by Rs1.16 per kilogram for February.<\/p>\n
In a late-night an\u00ad\u00adnouncement, the Ministry of Finance said the government has decided to bring changes in the current prices of petroleum products during the fortnight starting from Feb 1, as recommended by the Oil and Gas Regulatory Authority (Ogra). The petrol price thus went up by 5pc while that of HSD rose by 1pc with immediate effect.<\/p>\n
The new ex-depot price of petrol has been set at Rs272.89 per litre, up Rs13.55. Its retail price at the pump would be well above Rs273.50 per litre. Petrol is mostly used in private transport, small vehicles, rickshaws and two-wheelers and directly impacts the budgets of the middle- and lower-middle classes.<\/p>\n
On the other hand, the price of high-speed diesel has been fixed at Rs278.96 per litre, up Rs2.75. Its retail price at pumps would, however, be higher than Rs280. Most of the transport sector runs on HSD. Its price is considered highly inflationary as it is mostly used in heavy transport vehicles, trains and agricultural engines like trucks, buses, tractors, tube-wells and threshers and particularly adds to the prices of vegetables and other eatables.<\/p>\n
The government did not announce the prices of kerosene and light diesel oil (LDO). Kerosene is mostly used by unscrupulous elements for mixing it with petrol and, to some extent, for lighting in very remote areas, while LDO is consumed by flour mills and a couple of power plants.<\/p>\n