Diesel price likely to go up by Rs4.92

ISLAMABAD: Another bombshell is likely to befall hapless consumers as the government is likely to increase diesel prices by Rs4.92 per litre with effect from December 1, 2011.

The price of High Speed Diesel is to go up by Rs4.92 per litre, which will cause a new wave of inflation that is already in double digits. Diesel is used in the transportation of all items of daily use and the rise in its price will increase transportation costs of all goods. However, chances are there will be no change in petrol prices.

Likewise, a steep increase in the price of Light Diesel Oil (LDO) and kerosene oil by Rs3.7 per litre will also add to the woes of the common man.

The Oil and Gas Regulatory Authority (OGRA) has forwarded the summary for the change in prices to the Ministry of Finance for approval.