ISLAMABAD: In a fresh blow to inflation-hit consumers, the caretaker government on Wednesday increased prices of petrol and High Speed Diesel (HSD) by Rs13.55 and Rs2.75 per litre respectively during the fortnight starting from Thursday, February 1 as recommended by Oil and Gas Regulatory Authority (OGRA). After the increase, petrol which was available for Rs259.34 will be sold at Rs272.89 and HSD which was sold at Rs276.21 will be available in Rs278.96 per litre. The government however has sustained the price of kerosene oil (kero) and light diesel oil (LDO) by adjusting the prices. The estimated import premium on petrol stands at $9.47 per barrel. Simultaneously, the premium on HSD is expected to rise to $6.50 per barrel, up from $5.30 per barrel in the current fortnight.
The price of Brent went up by more than $3 per barrel to $83 from $78 per barrel since January 16 while HSD had become costlier by about $2 per barrel to $97 from about $95 per barrel during the same period. –Agencies
