Petrol price increased by Rs177 per litr

ISLAMABAD: The federal government has announced hike in prices of petrol by Rs1.77 per litre and High Speed Diesel (HSD) by Rs2 per litre, for the next fortnight.Addressing a news conference in Islamabad, Finance Minister Ishaq Dar said that the prices of light diesel oil and kerosene will remain intact from tomorrow till 31st of this month.He said the price of petrol will be increased by one rupee and seventy seven paisa per liter and high speed diesel oil by two rupees per liter.He said the government treasury will bear the burden of 2.75 billion rupees as subsidy for this period on petroleum products.The minister said that the OGRA had proposed Rs14.31 increase in kerosene oil, Rs10.11 increase in light diesel oil, Rs3.94 increase in HSD and Rs1.77 increase in petrol.Ishaq Dar said that the prime minister has directed to provide maximum relief to the general public. He said the prices of petrol and high speed diesel oil have been increased due to 43 percent increase in prices of crude oil and petroleum products in the international market.