Pakistan raises the price of kerosene while maintaining the same prices for petrol and diesel.

Kerosene, sometimes referred to as the “poor man’s fuel,” has suffered the most price hike of any fuel since March 7 and is now the most costly consumer product at Rs358 a litre thanks to a recent pricing announcement.

The Ministry of Energy claims that in order to maintain gasoline prices despite an increase in the global market, the Pakistani government will provide oil marketing firms (OMCs) with a price difference subsidy of Rs23 billion.

The announcement states that the diesel duty has been kept at Rs55.24 per litre, while the petrol levy will stay at Rs105.37 per litre.

According to officials, the subsidy will be available from March 14 to March 20. The government will provide a subsidy of Rs49.63 per litre for gasoline and Rs75.05 per litre for diesel during this time.

The Oil and Gas Regulatory Authority will process the payments and audit the bills that oil marketing businesses submit.

In the meantime, the Economic Coordination Committee has authorized the transfer of Rs27.1 billion into the Prime Minister’s Austerity Fund, which the cabinet has approved. OGRA would receive Rs23 billion of this sum to pay for fuel subsidies.