Islamabad : The government has increased the prices of all petroleum products by up to nearly Rs26, an out of turn decision which caught consumers by surprise.
The price of petrol (motor spirit) has been raised by a whopping Rs25.58 to Rs100.10 per litre from the existing Rs74.52, an increase of 25.6 per cent, the price of high-speed diesel (HSD) has been hiked to Rs101.46 per litre from the current price of Rs80.15, a jump of Rs21.31.
The new price of kerosene oil (SKO) will be Rs59.06, a rise of Rs23.50 over the existing Rs35.56.
Meanwhile, the price of light diesel oil (LDO) has been pushed up by Rs17.84 to Rs55.98 from the current Rs38.14, according to a Finance Division press release
A Brief statement issued by the Finance Division said that, the decision to revise the prices of petroleum products upwards was taken "in view of the rising oil prices trend in the global market".
The new prices are effective from June 26 (Friday night).
The announcement of the fuel prices hike comes unexpectedly as the prices revised last month were to remain in effect until June 30.
The new prices are usually announced on the last day of a month and usually come into effect after 12am for the upcoming month.
In contrast to this practice, the revised prices were announced on the same day they went into effect, taking many consumers by surprise.