The federal government has raised the prices of kerosene oil and light diesel oil while keeping petrol and high-speed diesel rates unchanged. Officials say the decision was taken to shield consumers from rising international oil prices, with the government offering a temporary subsidy to maintain current petrol and diesel rates.
According to the Ministry of Energy’s Petroleum Division, the price of kerosene oil has been increased by Rs 39.20 per liter. After the latest revision, kerosene will now sell at Rs 358.01 per liter across the country.
Light diesel oil (LDO) has also seen a major increase. The government raised its price by Rs 67.51 per liter, setting the new rate at Rs 302.52 per liter compared to the earlier price of Rs 235.01 per liter.
However, the government decided not to change the prices of petrol and high-speed diesel for consumers. Officials said the petroleum levy on petrol will remain at Rs 105.37 per liter, while the levy on diesel will stay unchanged at Rs 55.24 per liter.
To maintain the existing retail prices, the government will provide a subsidy worth Rs 23 billion for one week, from March 14 to March 20. Under this arrangement, the government will pay a subsidy of Rs 49.63 per liter on petrol and Rs 75.05 per liter on high-speed diesel.
Officials explained that the subsidy will be paid to oil marketing companies through a price differential mechanism.
