Govt increases petrol price by Rs10.49 per litre

The government increased on Saturday the price of petrol by Rs10.49 per litre, taking its rate to Rs137.79 per litre.

As per the notification issued by the Finance Division, oil prices in the international market had risen around $85 a barrel which was the highest since October 2018.

“In the current scenario, the government has absorbed the pressure and provided maximum relief to consumers by keeping the petroleum levy and sales tax to a minimum,” the notification said.

“Therefore, prices worked out by Ogra (Oil & Gas Regulatory Authority) have been approved.”

The price of high speed diesel (HSD) has also been raised by Rs12.44 per litre and will now be available at Rs134.48. Moreover, the prices of kerosene and light diesel oil (LDO) have been increased by Rs10.95 and Rs8.84 per litre, respectively. The new price of kerosene is Rs110.26 per litre while LDO will be sold at Rs108.35 per litre.

Earlier, Ogra had sent a summary to the Petroleum Division for recommendations for a significant hike in the prices based on the current rate of petroleum levy (PL) and general sale tax (GST).

Ogra recommended Rs8 per litre raise in rate of petroleum and another increase by Rs11 per litre in price of HSD.