ISLAMABAD, AUG 31 (DNA) – Federal government increased petrol price by Rs 2 per litre which will be implemented from September 1, one day before Eid-ul-Adha.

Ministry of Finance gave formal approval to the recommendations forwarded by Oil and Gas Regulatory Authority (OGRA). Petrol will now be sold at Rs. 71.50/litre after approval of Rs2/litre rise.

Government has decided to retain the petroleum prices of some products including diesel, kerosene oil, and light diesel. The new prices will be updated from September 1, at 12 am midnight.

According to OGRA’s summary, it was recommended to increase high speed diesel price by 70 paisa to Rs 78.10 from present level of Rs 77.40. An increase of Rs 2.24 per liter was recommended for motor gasoline while the price of petrol was recommended to touch Rs 71.80 from Rs 69.56 per liter.

Similarly, it was advised to hike the price of kerosene and light diesel oil prices by Rs 15 and Rs 12 per liter to Rs 59 and Rs 56 per liter respectively.