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Dubai: Prices of petrol and diesel have been increased by one rupee a liter each for April.

Announcing this at a news conference in Dubai, Finance Minister Ishaq Dar said the new prices would become effective from midnight on Friday.

He said OGRA had recommended an increase of two rupee and twenty-eight paisa in the price of petrol and two rupee and fifty paisa per liter in the price of diesel. He said under instructions of the Prime Minister minimum possible burden is being passed on to consumers.

The Minister said prices of kerosene oil and light diesel oil would remain unchanged for next month.

The Finance Minister said the Government would bear financial burden of three billion rupees for just April for not transferring the full impact of the prices of petrol and diesel to consumers.

He said the Government has been passing on the price impact partially to consumers and loss of revenue on this account has reached to hundred billion rupees for the last about eleven months.

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