The government on Thursday night notified the prices of petroleum products for the next two weeks, increasing the rates of petrol and high-speed diesel while decreasing the rates of kerosene and light diesel.
The decision contrasted with predictions of market observers, who had anticipated a rate cut in line with a decline in the prices of petroleum products in the international market. In a notification, the Ministry of Finance said the Oil and Gas Regulatory Authority (OGRA) devised the prices for the coming fortnight based on variations in the international market.
It said the price of petrol was raised by Rs. 1.35/liter, going from Rs. 247.03 to Rs. 248.38/liter, while the price of high-speed diesel spiked by Rs. 3.85/liter from Rs. 251.29 to Rs. 255.14/liter. By contrast, the prices of both light diesel and kerosene have been reduced by Rs. 2.61/liter and Rs. 1.48/liter, respectively.
The prices of fuel products currently include roughly Rs. 60/liter in the form of petroleum development levy (PDL) though the government retains zero general sales tax.