The federal government announced massive hike in kerosene oil by Rs70.73 per litre, taking the new price to Rs428.74 per litre. The change was announced in a notification issued by the Oil and Gas Regulatory Authority (OGRA) on Friday.
The new prices have come into effect immediately.
According to officials, the increase is due to ongoing fluctuations in global petroleum prices, which continue to impact local fuel rates.
Meanwhile, Prime Minister Shehbaz Sharif announced that the prices of petrol and diesel will remain unchanged for one more week.
The government has decided to bear a financial burden of Rs45 billion over the next seven days to keep petrol and diesel prices stable.
However, the massive hike in kerosene oil prices is expected to increase financial pressure on households, especially in low-income and rural areas where it is widely used for cooking and heating.
Kerosene oil is a petroleum-based fuel commonly used for heating, lighting, and in some cases as jet fuel.
