Petrol price breaks all records after Rs12.03 per litre increase

Petrol price breaks all records after Rs12.03 per litre increase

Islamabad (Web Desk): The PTI-led government on Tuesday made a massive increase of up to Rs12.03 per litre in the prices of petroleum products.

The finance ministry in a statement said that the prices of petroleum products in the international market are showing a drastic increase and presently, they are at the highest level since 2014.

According to a notification issued by the Ministry of Finance, the ex-depot price of petrol was fixed at Rs159.86 instead of Rs147.83 per litre at present, up by Rs12.03 per litre or 8.14pc. The petroleum levy on petrol was increased from Rs13.92 to Rs17.92 per litre. The government is also charging about Rs12 per litre on petrol as customs duty.

The ex-depot price of high-speed diesel (HSD) was raised from Rs144.62 to Rs154.15 per litre, showing an increase of Rs9.53 per litre or 6.6pc. The petroleum levy on HSD was increased from Rs9.30 to Rs13.30 per litre in addition to Rs12 per liter customs duty.

The ex-depot price of kerosene oil was also increased from Rs116.48 to Rs126.56 per litre, up by Rs10.08 or 8.65pc. The petroleum levy on kerosene was increased from Re1 to Rs5pc per litre.

The ex-depot price of light-diesel oil (LDO) was also jacked up from Rs114.54 to Rs123.97, up by Rs9.43 or 8.23pc. The petroleum levy on LDO was raised from Rs5.50 to Rs9.50 per litre.

All jet fuel prices were also increased. The price of JP-1 was raised by Rs11 per litre to Rs140.65 while JP-8 price was increased by Rs7 per litre to Rs135.72. The E-10 fuel (ethanol petrol) was also increased by over Rs10 per litre to Rs157.35. These three products also contain 17pc GST but no PL.