ISLAMABAD - The government has once again jacked up the price of Petrol (MS) by Rs 6.72/litre, for the last fortnightly of August.

However, the prices of High Speed Diesel (HSD) and Kerosene Oil (SKO) have been slightly reduced by Rs 0.51/litre and Rs 1.67/litre respectively for the next fortnightly.The price of Light Diesel Oil (LDO) has also been increased by Rs 0.43/litre.

The new prices will be effective from August 16 till August 31.

In the wake of fluctuations in petroleum prices in the international market and exchange rate variation, the government has decided to revise the existing prices of petroleum products to pass on the impact of to the consumers, said a statement issued here by the Finance Division late Monday night.

After the increase of Rs 6.72/litre, the price of Petrol will go up to Rs 233.91/litre from the existing Rs 227.19/litre. With the increase of Rs 0.43/litre the price of Light Diesel Oil will go up to Rs 191.75/litre from the existing Rs 191.32/litre.

The price of HSD after the cut of 51 paisa will go down to Rs 244.44/litre from the existing Rs 244.95/litre. After the cut of Rs 1.67/litre the price of Kerosene will reduce to Rs 199.40/litre from the existing Rs 201.07/litre.

It is worth to mention here that since the last revision of POL prices, on August 1, 2022, Pakistani rupee has appreciated against the US dollar by more than Rs24, while the crude oil prices also dropped from $103/barrel in the international market and was fluctuating between $92 and $100 per barrel during the last 15 days.

However, the price of Petrol has increased because of high premium and high LC cost on its import.

The government had already increased the dealers’ margin on petrol to Rs7/litre, while for the next fortnightly the dealer margin on HSD has also been raised to Rs 7 per litre.

The existing Petroleum Development Levy (PL) on Petrol is Rs20/litre, while on HSD it is Rs 10/litre.