The government on Tuesday set new rates for petroleum based fuels for the next two weeks according to a report by radio Pakistan.
The price of petrol has gone up by Rs.1.71 per liter to 73 per liter while the price of diesel has risen by Rs.1.58 to top off at Rs.82 per liter. The prices are set to become effective from midnight according to Finance Minister Ishaq Dar.
The increase is the second consecutive in the government’s fortnightly assessment of petroleum prices after petrol prices had been increased by Rs.2.25 before.
Other petroleum products have also seen a price hike with kerosene oil increasing by Rs0.75, while light speed diesel has increased in price from Rs43.34 to Rs44 rupees.
Meanwhile the finance minister has claimed that the government is remaining adamant on their plan to provide a Rs.3 billion subsidy to petroleum products.