The federal government revised the prices of petroleum products for the next fortnight, Radio Pakistan reported Sunday.

Finance Minister Ishaq Dar addressed a press conference in Islamabad, saying that the prices of light diesel oil and kerosene will remain intact, beginning tomorrow till Jan 31.

He said the price of petrol will be increased by Rs1.77 per litre and high-speed diesel oil will be increased by Rs2 per litre.

Dar aslo said that the government treasury will bear the burden of Rs2.75 billion as a subsidy for this period on petroleum products.

The finance minister informed the members of the media that the Oil and Gas Regulatory Authority had originally proposed an increase of Rs14.31 in the cost of kerosene oil, a Rs10.11 increase in light diesel oil, Rs3.94 increase in high-speed diesel oil and Rs1.77 increase in petrol.

However, he said, the prime minister has directed to provide maximum relief to the general public.

Read more: Govt increases petrol price by Rs2 after seven months of stability: Dar

The minister also informed that the prices of petrol and high-speed diesel oil have been increased due to a 43 per cent increase in the prices of crude oil and petroleum products in the global market.

Dar further claimed that the government kept the prices of the petroleum products stable since April 2016 and that the increase in prices on an international level has been absorbed by the government.