According to a press release issued by the Prime Minister House, the government has agreed to raise the price of petrol by Rs 2.31 per litre from 1st January 2021.
The Oil and Gas Regulatory Authority (OGRA) has increased the prices of petroleum products for the first month of 2021 after PM Imran Khan rejected their summary, which had proposed an increase of Rs 10.68 per litre in the price of petrol, as per the statement.
OGRA also proposed rising diesel prices by Rs 8.37 per litre. The PM House, however, reported that the proposals were rejected by the premier and instead approved an increase of Rs 1.80 per litre diesel price.
The PM House reported that OGRA had proposed a price increase of Rs 10.92 per liter for other petroleum products such as kerosene oil and Rs 14.87 for light diesel. However, the premier agreed for an increase of Rs 3.36 in the price of kerosene oil and Rs 3.95 in the price of light diesel.
Petrol will now be available per litre for Rs 106 while diesel will be offered per litre for Rs 110.24. The latest kerosene oil price is Rs 73.65 per litre and Rs 71.81 will be eligible for light diesel oil.
The new petrol rates are effective from midnight tonight until 15 January.
Previously, the government increased the price of petrol by Rs 3 per liter for the second half of December. According to that, the price of a litre of petrol reached Rs 103.69. High-speed diesel’s new price became Rs 108.44 per litre and Kerosene oil went up by Rs 5 to Rs 70.29 per litre.