I
SLAMABAD: The finance division approved ne
w petroleum product prices which will be effective from Sunday.
Price increment is observed on the recommendation of Oil and Gas Regulatory Authority (OGRA).
In a proposed increasing price summary issued by the finance ministry on Saturday, OGRA increased petrol price by Rs7.54 per litre, diesel by Rs14 per litre, whereas kerosene oil by Rs3.36 per litre and light diesel oil by Rs 5.92 per litre.
After the increas
e in petroleum products prices, the new price schedule includ
es petrol at Rs99.50 per litre, the HSD Rs119.31 per litre, similarly kerosene oil will be Rs87.70 per litre and the LDO Rs80.91 per litre.
The government strictly announced to have full impact of the increase to the consumers by keeping in view the fiscal position in country.
“The increase in the petroleum prices is caused due to increas
e in petroleum prices in international market and depreciation of rupee against US dollar,” read the statement.
The average monthly demand of petrol is 625,000 tons, HSD 750,000 tons, kerosene oil 15,000 tons and LDO 2,000 tons per month and the new surg
e in prices w
ill affect the lives of the consumers.
The above mentioned dispensation will be implemented through revision of sales tax rates and petroleum development levy.
