Islamabad:Finance Minister Ishaq Dar on Sunday announced that the price of petrol and diesel will go up by Rs35 from today.
The government has taken decision following the devaluation of the rupee against the dollar,
In a televised address, Dar also announced that the prices of kerosene oil and light diesel oil have been increased by Rs 18.
Dar shared that OGRA had requested Prime Minister Shehbaz Sharif and the government to implement the new rates on an immediate basis to prevent the temporary hoarding and the speculations about the shortage of petrol.
The minister admitted in the address that the speculations had led to artificial shortages in the market.
“We will have to keep in view the 11% increase in petroleum prices in the international market,” he said.
Dar said that in the last four months, from October to January 29, the prices were not increased once. He added that in fact, petrol and diesel prices were decreased by Rs19 or Rs20 during this period.
He said that the kerosene oil and light diesel oil were decreased Rs29 and Rs30.
“Despite the rupee devaluation and the increase in international prices, it was determined that a minimum price would be increased on the directions of PM Shehbaz,” said Dar.
He hoped that the immediate decision would dismiss the rumours about the shortage of petrol۔
