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Pakistan government has increased petrol prices by 4 per litre and that of high-speed diesel (HSD) by 2 per litre and it also hiked the prices of kerosene and light diesel oil by 7.05 and 8.82 per litre, respectively, reported local media.

Islamabad had hiked the petroleum prices on September 15 by 5 to 6 per litre.

Currently in Pakistan, the price of petrol has surged to 127.30 per litre, high-speed diesel costs 122.04 per litre, kerosene 99.31 and light diesel oil costs 99.51 per litre, reported Dawn. The increased prices are effective from Friday.

Pakistan's Finance Division said in a statement, the Oil and Gas Regulatory Authority (Ogra) had worked out higher petroleum prices based on an increase in prices in the international market as well as exchange rate variations in the last two weeks.

The statement added that Prime Minister Imran Khan had "decided against the recommendation and passed on the minimum increase in prices to the consumers", according to Dawn.

Pakistan government now revises oil prices on a fortnightly basis to pass on international prices published in Platt's Oilgram instead of the previous mechanism of monthly calculations on the basis of import cost of Pakistan State Oil, reported Dawn.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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