Govt jacks-up diesel in order to keep petroleum prices unchanged

ISLAMABAD: The government on Thursday jacked-up Petroleum Levy (PL) on both High-Speed Diesel (HSD) and MS (petrol) in order to keep prices of petroleum products unchanged with effect from 1st October 2019.

According to official data, the Petroleum Levy on HSD increased from Rs18 per litre to Rs20.76 per litre. 17 percent of GST would also be charged. So, in totality, the PL and GST charged from consumers would stand in the range of Rs40 per litre. The price of HSD stood at Rs127.14 per litre in the domestic market.

On the petrol prices, the PL was increased by Rs2.17 per litre as it increased from Rs15 to Rs17.18 per litre with effect from 1st October. The FBR also charged 17 percent GST from consumers. The price of petrol stands at Rs113.24 per liter in the domestic market for the ongoing month.

Read Petroleum prices to remain unchanged in October

Earlier on 30th September, the federal government decided not to change the prices of petroleum products for the month of October 2019.

According to an official notification issued by the finance ministry, the decision was taken in light of the rise in petroleum prices in the international market.

The notification further said that the petroleum prices are expected to rise internationally from mid-December and the trend of rising in prices will continue until November.