Islamabad (Agencies): The government announced a hike in petroleum prices on Saturday, increasing the price of Motor Spirit (MS) petrol by Rs3.72 per liter and high-speed diesel (HSD) by Rs3.29 per liter.

According to the Ministry of Finance, the price of MS petrol is now set at Rs252.10 per liter, up from Rs248.38 per liter. Similarly, the price of high-speed diesel has been adjusted to Rs258.43 per liter, compared to the previous rate of Rs255.14 per liter.

In contrast, the prices of kerosene oil and light diesel oil were slightly reduced. Kerosene oil saw a decrease of Rs0.62, bringing its price down to Rs164.98 per liter from Rs165.60 per liter. Light diesel oil experienced a reduction of Rs0.48, now priced at Rs151.73 per liter, compared to Rs152.21 per liter previously.

A press release from the Ministry of Finance attributed the revisions to the Oil & Gas Regulatory Authority (OGRA), which calculated the changes based on fluctuations in global oil prices. The new rates will be effective for the fortnight starting December 1, 2024.

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