Govt again jacks up petroleum prices

ISLAMABAD  -  The federal government on Monday jacked up the prices of Petrol and High Speed Diesel by Rs4.53 per litre and Rs 8.14 per litre, respectively for the second fortnightly of April 2024.

The prices of Kerosene Oil and Light Diesel Oil have also been increased by Rs 6.69 per litre and Rs 6.54 per litre for the next fortnightly starting from April 16,2024. The prices of Petroleum products have seen an increasing trend in the international market during the last fortnight, said a statement issued by the Finance Division.

The Oil & Gas Regulatory Authority (OGRA) had worked out the consumer prices, based on the price variations in the international market, it said.

Following a hike of Rs 4.53 per litre, the price of Petrol will go up to Rs 293.94 per litre from the existing Rs 289.41 per litre. Similarly, while the price of HSD will go up to Rs 290.38 per litre from the current Rs 282.24 per litre following a hike of Rs 8.14 per litre.

After a hike of Rs 6.69 per litre the price of Kerosene oil will reach Rs 193.08 per litre from the existing Rs 186.39 per litre. Similarly, after the increase of Rs 6.54 per litre the price of LDO will go up to Rs 174.34 per litre from the existing Rs 167.80 per litre.

It is noteworthy here that the prices of crude oil have increased by over $2.60 per barrel, in the international market, during the first fortnightly of April and currently roaming around $90 per barrel.  

The rupee value meanwhile has slightly appreciated against the US dollar during the fortnight.

The federal government is currently charging Rs 60 per litre Petroleum Levy on both Petrol and HSD. Currently, no General Sales Tax is being charged on Petrol and HSD.

It is also worth to note that the government had also increased the price of petrol by Rs 9.66 per litre for the first fortnightly of April 2024, however the price of High Speed Diesel was slashed by Rs 3.32 per litre.

The new oil prices will be effective from April 16, till further revision.

ePaper - Nawaiwaqt