ISLAMABAD: The government has increased the price of kerosene oil by Rs 34.8 per liter. This decision has been taken by issuing a notification on Thursday.
According to the notification, the price of kerosene oil has been fixed at Rs 467.48 per liter. Earlier, the price of kerosene oil was Rs 433.40 per liter.
The notification further stated that the new price of kerosene oil has been implemented with effect from today.
The price of kerosene oil has been increased in the country in view of the periodic revision of the price of petroleum products in the country in accordance with market trends.
The federal government has announced a massive hike in petroleum prices in the country, raising petrol prices by Rs137 per litre and high-speed diesel by Rs185 per litre, in a press conference held in the wee hours of the day.
After the increase, the new petrol prices in Pakistan will be Rs 458.40 per litre, while diesel will be Rs 520.35 per litre.
Finance Minister Muhammad Aurangzeb said that the government has announced a 3-month subsidy for motorcyclists. And a subsidy of Rs 100 per liter will be given.
The decision was jointly announced by Finance Minister Muhammad Aurangzeb and Petroleum Minister Ali Pervaiz Malik, who cited rising oil prices globally and the disruption in the supply of oil due to the ongoing conflict between Iran, the US, and Israel as the reasons for the massive hike.
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