ISLAMABAD: Despite increasing petrol prices by an average of 9.9 per cent, the government will continue to subsidise oil consumption in the country at a cost of at least Rs5 billion a month.
The Oil and Gas Regulatory Authority (Ogra) issued a notice on Monday, raising petrol prices by Rs7.23 per litre, or 9.9 per cent, to Rs80.19 per litre. Diesel prices went up by 9.83 per cent, or Rs7.70 per litre, to Rs86.03. The new prices are due to go into effect on March 1 (today).