Govt increases petrol price by Rs2.61per litre

Geo.tv/Files

ISLAMABAD: Pakistanis will feel the pinch of increased petrol prices from today after the Ministry of Finance announced it had accepted a summary of the Oil and Gas Regulatory Authority (OGRA) to raise prices of petroleum products.

The price of diesel has been hiked by Rs2.25 and kerosene by Rs3.10 per litre, according to a notification from the finance ministry. 

Petrol will now be available for Rs116.60 per litre, light diesel Rs84.51 per litre and kerosene will now be sold at Rs99.45 per litre. 

OGRA had recommended to the Petroleum Division to increase prices of petroleum related products for the month of January 2020, on Monday. 

In percentage terms, the petrol price has been increased by 2.29 per cent, diesel 1.8 per cent and kerosene 3.22 per cent as compared to the previous month. From January, the government will be charging 17 percent general sales tax (GST) on all petroleum products, according to a report in The News.

The government is also collecting petroleum levy on these products which is taken from the consumers. Currently, the government is charging Rs18 per liter petroleum levy on high speed diesel, Rs15 on petrol and Rs6 on kerosene.

Moreover, the government has also increased the price of Liquefied Petroleum Gas (LPG) by Rs277.79 to Rs1,791.48 per 11.8/kg cylinder for January 2020.

Ogra notified that the new prices, under which the LPG price has been increased by 23.54/kg to Rs151.82/kg. For December 2019, the Ogra had notified LPG price at Rs1,513.69/cylinder or Rs128.27/kg.