ISLAMABAD: The government on Thursday increased the prices of all the petroleum products by Rs4 to Rs8 per litre with immediate effect for the next 15 days to pass on the impact of the higher international market and currency depreciation.
According to a notification issued by the Ministry of Finance, the prices of petrol and high-speed diesel (HSD) were enhanced by Rs4 and Rs2 per litre and that of kerosene and light diesel oil (LDO) by Rs7.05 and Rs8.82 per litre, respectively.
Petrol, with the Rs4 increase, will costs Rs127.30 per litre, whereas high-speed diesel costs Rs122.04 per litre. Meanwhile, kerosene oil will now cost Rs99.31 per litre, while light diesel oil cost Rs99.51 per litre.
“The OGRA has worked out the higher petroleum prices but prime minister has decided against the recommendation and passed on the minimum increase in prices to the consumers,” the notification said.
The government has absorbed the higher international pressure of prices through a reduction in petroleum levy and the sales tax, it added. “It is pertinent to mention that petroleum prices in Pakistan are the cheapest in the region,” the notification claimed.
The government had set a Rs610bn target of petroleum levy during the current fiscal year but could actually collect no more than Rs25bn in first two and half months of the first quarter, an official said.
