ISLAMABAD (National Times): The government on Tuesday jacked up the price of petrol by Rs 12.03 per litre with immediate effect.

The prices of high-speed diesel (HSD) was increased by Rs9.53 per liter and will now cost Rs154.15 per liter.

The price of kerosene oil was also increased by Rs10.08 per liter to Rs126.56 per liter.

In addition, light diesel oil will cost Rs9.43 more and will thus be priced at Rs123.97 per liter.

Earlier, Prime Minister Imran Khan had sent back a summary of the Oil and Gas Regulatory Authority (OGRA) proposing an increase of Rs 12.3 per liter in petrol price to the Finance Ministry for review.

Following the rise in oil prices in the global market, OGRA had sent a summary to the Prime Minister s Office proposing to increase petrol price by Rs12.3 per liter. The proposal was in line with the terms of the International Monetary Fund (IMF).

Sources further said that PM Imran Khan returned the summary to the Ministry of Finance for review following which on the directive of PM Imran, the Ministry of Finance will reconsider the increase in the prices of petroleum products.

According to sources, Imran Khan had said that petrol prices cannot be increased so much.