Islamabad: The federal government on Tuesday hiked the prices of petroleumproducts. The new prices will come into effect from December 16.

A notification issued by Ministry of Finance said that the price of petrolhas been increased by Rs3 to Rs103.69 per litre while the price of dieselhas also been raised by Rs3 to Rs108.44/litre.

The prices of the low speed diesel and kerosene oil have been hiked by Rs5each to reach Rs67.86/ litre and Rs70.29 respectively.

On Monday, the Oil and Gas Regulatory Authority (OGRA) recommended anincrease of up to Rs7 into petroleum prices.

In a summary sent to the Petroleum Division, the Ogra had suggested Rs5 perlitre in petrol prices while it has called for increasing diesel price byRs7 per litre.