POL price unchanged till March 31

According to the Federal Minister of Finance, Abdul Hafeez Sheikh, the prices of kerosene oil and light diesel has been increased.

The finance minister announced that the price of kerosene oil has been increased by Rs3.42 per litre. The new price of kerosene oil for the month of March will be Rs83.61 per litre.

Parallel to that, the prices of light diesel oil has been increased by Rs2.19 per litre. The new price of light diesel oil, after the increase, have been set at Rs81.42, the finance minister said.

Earlier, The Oil and Gas Regulatory Authority (OGRA) has sent a summary to the Petroleum Division in which it has suggested a hike in the price of petroleum products.

OGRA suggested an increase of Rs5.50 per litre in Petrol price while the price of diesel was suggested to rise by Rs6.

The present rate of levy imposed on petrol is Rs12.65 per litre while that on diesel is Rs12.53 per litre.

The final decision on petroleum prices to be increased or not is taken by the prime minister, after he consults with the Ministry of Finance.