As per the notified prices, an increase of up to 3.2 per cent in the prices of various petroleum products has been allowed for the first month of New Year.
Pakistanis will feel the pinch of increased petrol prices from today after the Ministry of Finance announced it had accepted a summary of the Oil and Gas Regulatory Authority (OGRA) to raise prices of petroleum products.
The OGRA had proposed raising Rs2.25 per litre on high-speed diesel, while Rs3.10 on kerosene oil.
According to a notification issued by the OGRA, the prices of petrol have been raised by Rs2.61 per litre which takes the existing price of Rs113.99 to Rs116.60.
The retail prices of petrol and oil slightly increases from 15:00 on December 31. Similarly, kerosene price will go up from the current Rs96.35 to Rs99.45 per litre.
Meanwhile, the power rate for K-electric has been jacked up by Rs17.69 per unit from the existing average sale rate of Rs.12.81/kWh, however the "consumers will not pay the new charges", the company says.
QP has not changed the price for petrol - both super and premium - and diesel in January.
The decision finally reveals that the revised tariff works out as Rs17.69/kWh and the total impact amounts to around Rs106 billion.
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