Islamabad : The government on Friday revised upward the prices of petroleum products for next fortnight (Feb 1 to Feb 15). According to a notification issued by the government here petrol prices have been increased by Rs 1 per litre and diesel becomes costlier by Rs 7 per liter for next fortnight .
With increase of Rs 1 , the price of petrol jumped up from Rs 156.13 to Rs 157.13 per litre. Diesel rates have seen massive increased . With an increase of Rs 7 , High Speed Diesel (HSD) rates increased to Rs 167.97 from Rs 160.97 per litre. The new rates of petroleum products have come into force with immediate effect.
This is second upward revision in the rates of petroleum products in a row. The government had revised rates of petroleum products for the outgoing fortnight marginally. The government revises the rates of petroleum products by monthly on the calculation of adjustment in the rates of crude oil in the international market. Massive increase of Rs 7 per liter ,
transporters may increase fare for the public proportionately. Since petroleum product prices make spiral effect , any upward revision in their prices results in more jump in the prices of essential items and hence bit every one in the society .
