The government has increased petroleum prices by up to Rs 8 per liter, the new rates will be in effect for the next 16 days.
As per details, petrol rate has been increased by Rs 3 per liter, whereas prices of kerosene oil and light diesel oil (LDO have been increased by Rs 5 per liter.
High speed diesel (HSD) is now being sold at Rs 108.44 per liter with an increase of Rs 3 per liter (2.48 per cent).
Price of Kerosene oil stands at Rs 70.29 per liter with an increase of 6.95 per cent, whereas petrol is being sold at Rs 103.69 liter after an increase of
The price hike will be in effect for the next 16 days.
The government has also reduced petroleum levy on petrol, HSD and Kerosene by Rs 4.50, Rs 2.51 and 55 paisa per liter respectively, whereas petroleum levy on LDO has been increased by about 65 paisa per liter.
Moreover, currently government is charging 17 per cent general sales tax (GST) in order to generate revenue.
As of now, government is charging Rs 42 and Rs 59 per liter on petrol and HSD in tax.
Petrol and HSD are two primary petroleum products used in Pakistan. HSD is primarily used in trucks and goods transport vehicles and hence has utmost effect on inflation and prices of commodities.
It is to be noted that Pakistan’s average petrol sales are around 700,00 tonnes per month, HSD – 600,000 tonnes per month, Kerosene oil – 11,000 tonnes per month and LDO – 2,000 tonnes per month.
