The new increased prices will remain effective for the month of April.

ISLAMABAD: Oil and Gas Regulatory Authority has announced an increase in the price of petroleum products. According to the OGRA, petroleum prices are being increased due to rise in oil prices in the international market.

The new increased prices will be implemented from Thursday and will remain effective for the month of April.

According to the regulatory authority, the price of petrol has been increased by Rs2.5 per liter. The new petrol price is Rs73.14.

High octane blending component price went up to Rs87.56 after an increase of Rs1.5 per liter.

The ex-depot sale price of kerosene jacked up to Rs67.3 reflecting an increase of Rs3.31 per liter. The price of light diesel oil increased to Rs63.7 with an increase of Rs2.73 per liter.

The prices of jet fuel were also increased. New price of JP-1 is Rs54.54, JP-4 is Rs53.10 and JP-8 will be Rs57.22.

Oil prices dropped in Asian trade Thursday after investors took profit following a surge near 17-month highs, analysts said.

Wednesday’s price rise was driven by a weakened dollar which makes dollar-priced commodities like oil cheaper for buyers using other currencies.