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The Finance Ministry with the approval of Prime Minister has announced increased POL prices for the month of February, said an official statement of the Ministry on Friday night.
The statement further stated that the price of petrol has been increased Rs 1 per litter and diesel Rs 7 per liter while the prices of other products remain unchanged, said an official statement of ministry.
According to new POL prices, Motor Spirit (Petrol) has been increased from Rs 256.13 to 257.13 per liter whereas the price of High-Speed Diesel (HSD) has been changed from Rs 260.95 to 267.95 per liter.
The prices of other POL products like Kerosine oil and Light Diesel Oil (LDO) remained unchanged for the next 15 days.
The rise in global prices is expected to directly affect domestic rates, prompting the government to review and adjust the prices accordingly. The Oil and Gas Regulatory Authority (OGRA) will determine the new rates based on international market trends on January 31.
This potential increase follows a recent price hike on January 15, when petrol prices were raised by Rs 3.47, and high-speed diesel by Rs 2.63 per liter. At that time, petrol was priced at Rs 256.13 per liter, and diesel at Rs 260.95 per liter.
Earlier, on January 1, 2025, the government had also raised petroleum prices, with petrol increasing by Rs 0.56 per liter and high-speed diesel by Rs 2.96 per liter.
Earlier, Oil and Gas Regulatory Authority (OGRA) has notified an increase of the price of Liquified Petroleum Gas (LPG) Rs3.68 per kilogram effective from February 1st, 2025.
According to a notification, new LPG price has been fixed at Rs 253.97 per kg. After the increase, the new price of 11.8 kg LPG cylinder will be Rs 2,997.
The LPG producer price is linked with Saudi Aramco-CP and USdollar exchange rate. As compared to previous month Saudi Aramco-CP has increased upto 1.6%.
The average Dollar exchange rate has slightly increased by 0.19% resulting to increase in LPG consumer price by Rs43.52/11.8 kg cylinder (1.47%). The per Kg increase in LPG consumer price is Rs.3.68.
