Govt allows Rs4.26 increase in petrol price

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31 May, 2019 11:22 pm

ISLAMABAD (92 News) – The federal government on Friday night allowed increase in the prices of petroleum products, raising the price of petrol by Rs4.26.

According to the Finance Ministry, the new price of petrol will be 112.68 with an increase of 4.26 rupees per litre; the price of High Speed Diesel will be 126.82 with an increase of 4.50 rupees per litre.

Similarly, the Kerosene oil will be sold out at 98.46 with an increase of 1.69 rupees per litre while, the new price of Light Diesel Oil will be 88.62 with an increase of 1.68 rupees per litre. The new prices shall be applicable from 1st to 30th June this year.

It was reported that the general sales tax (GST) on petrol and high-speed diesel has been increased to 13 per cent. It added that GST on kerosene oil and light diesel oil has been increased to 17 per cent.

The new price will come into effect from 12am on June 1.

It is noteworthy that the government had earlier hiked the petroleum prices by as much as Rs9.42 before the start of Ramzan.

The revised rates of petroleum products are as follows:

Petrol                            Rs112.68 per litre

High-speed diesel        Rs126.82 per litre

Kerosene oil                  Rs98.46 per litre

Light diesel oil              Rs88.62 per litre

OGRA recommends hike in petrol prices by Rs 8.53 ahead of Eid

A day earlier, the Oil and Gas Regulatory Authority (OGRA) has recommended to increase in the prices of petroleum products ahead of Eidul Fitr.

According to the details garnered, OGRA has asserted that the prices of petrol should be increased by Rs9 to reach Rs116.53 per liter.

The proposal includes the price of high speed diesel (HSD) by Rs8.99, taking the new price to Rs131.31 per liter. The new price of kerosene may be increased by Rs1.69, taking the proposed price to Rs98.46.

Similarly, price for light diesel oil (LDO) is likely to increase by Rs1.68, thereby taking the new price to Rs88.62 per liter.

The impact of rupee depreciation against the dollar is said to be incorporated in HSD and petrol prices, while the remaining increases would be made due to the rise in crude oil rates.

The federal government will take the final decision for increase in the prices after consultation with Prime Minister Imran Khan.

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