Finance

Govt increases petrol price by Rs5.15 per litre

Islamabad, August 1, 2019: The federal government increased the price of petrol by Rs5.15 per litre and Rs5.56 for High-Speed Diesel (HSD). Similarly, the price of Kerosene was increased by Rs5.38 and Rs8.9 for Light Diesel Oil (LDO).

Sources said that the government has approved all the recommendation of the Oil and Gas Regulatory Authority (Ogra) for the current month.

As such, the ex-depot rate of HSD to Rs132.47 per litre, from Rs126.82, showing an increase of about 4.45percent. Likewise, the government increased the ex-depot price of petrol to Rs117.83 per litre from Rs112.68 — up about 4.6pc.

Similarly, the ex-depot price of LDO was fixed at Rs97.52 per litre — up more than 10pc over the previous rate of Rs88.62. The kerosene price was fixed at Rs103.84 per litre, showing an increase of about 5.5pc over the existing rate of Rs98.46.

Last month, the federal government announced to increase general sales tax (GST) on all petroleum products up to 17 percent to generate Rs 11 billion additional revenue. Besides the GST, the petroleum levy ranging between Rs14-18 per litre was being charged on petrol and HSD and Rs3-6 on kerosene and LDO.

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