Govt hikes POL prices, petrol goes up by Rs2.5 per litre

The federal government on Thursday increased prices of petroleum oil and lubricants (POL), with petrol going up by Rs2.5 per litre.

The new price of petrol will be Rs92.88 per litre, read a notification issued by the Ministry of Finance.

Similarly, the price of diesel was increased by Rs4.75 per litre, taking it to Rs111.43 per litre.

The new price of kerosene oil reached Rs86.31 per litre after it was increased by Rs4 per litre, according to the notification.

The price of light diesel oil also went up by Rs2.5 per litre, reaching Rs77.53 per litre.

The new prices will take effect from midnight on March 1.

The notification said that authorities had worked out higher increase in the prices, owing to hike in oil prices in international market.

"But the government decided not to pass on the full impact to the consumers and approved a reduced level of increase," it added.

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