According to a notification issued by the Oil and Gas Regulatory Authority (OGRA), the price of kerosene oil has been raised to Rs318.81 per litre, effective from March 7.

Previously, kerosene oil was priced at Rs188.73 per litre, marking one of the largest increases in kerosene prices in recent years, according to energy analysts.

OGRA also announced an increase in the price of light diesel. The price of light diesel has been raised by Rs67.82 per litre, bringing the new rate to Rs235.01 per litre.

Officials said the price hike was necessary due to rising global oil prices and the prevailing regional situation.

According to the notification, a petroleum levy of Rs20.36 per litre has been imposed on kerosene oil, while a levy of Rs15.84 per litre has been fixed on light diesel.

Experts warn that the increase in petroleum prices may significantly impact the transport and agricultural sectors, potentially increasing operational costs.

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It is worth noting that the government also increased petrol and high-speed diesel prices by Rs55 per litre a day earlier, pushing overall fuel prices higher across the country.

Officials stated that petroleum product prices will continue to be reviewed based on fluctuations in the international oil market.