Govt hikes kerosene price by Rs130 to Rs318.81 per litre

ISLAMABAD: After announcing a whopping Rs55 per litre increase in petrol and high-speed diesel prices, the government also silently increased the price of kerosene by almost 70 per cent, it emerged on Saturday.

A notification to this effect was issued by the Oil and Gas Regulatory Authority. According to the notification, the price of kerosene has been increased by Rs130.08 to Rs318.81 per litre.

The notification said that the increase would come into effect on March 7 (Saturday). The previous price of kerosene, which went into effect on March 1, was Rs 188.73 per litre.

Kerosene is commonly used by households in remote areas where access to liquefied petroleum gas cylinders is difficult. Petrol and high-speed diesel are the major revenue spinners with their monthly sales of about 700,000 to 800,000 tonnes compared to just 10,000 tonnes of monthly demand for kerosene.

The development comes a day after the government increased petrol and diesel prices, mere hours after Prime Minister Shehbaz Sharif and Finance Minister Muhammad Aurangzeb assured the nation that petroleum reserves were sufficient and the situation remained under control.

At the same time, the government also shelved a proposed national action plan that envisaged work from home and distance learning measures in response to a potential fuel crisis, and instead decided to keep normal activities unchanged for at least a week.

Ahead of the midnight implementation of the price hike, long queues formed at petrol pumps across several cities as motorists rushed to fill their tanks before the new rates took effect. Reports from different parts of the country suggested that some fuel stations temporarily closed their pumps, apparently to avoid selling fuel at the old prices.