New govt jacks up oil pricess by upto Rs20/litre.

ISLAMABAD  -  The caretaker govern­ment, in less than 48 hours of assuming power, has gifted Pakistanis with up to Rs 20/litre increase in the prices of High Speed Diesel and Petrol.

As per the statement issued by the Finance Division late Tues­day night, the price of High Speed Diesel has been jacked up by Rs 20/litre, while petrol has been increased by Rs17.50/litre for the last fortnightly of Au­gust (16 to 31).

Petroleum prices in the international market have increased during the last fortnight and as a result the consum­er prices in Pakistan are also being revised, said the statement. 

Following the upward revision of Rs 17.50/litre, the price of Pet­rol has increased to Rs 290.45/litre from the pre­vious Rs 272.95/litre. Sim­ilarly, with the jump of Rs 20/litre, the price of HSD will reach Rs Rs293.40/litre from the earlier Rs 273.40/litre. It is worth to mention here that in the last revision of its tenure, the PDM gov­ernment had also increased the prices of Petrol and High Speed Diesel by Rs 19.95/li­tre and 19.90/litre respec­tively for the first fortnightly of August. For the next fort­nightly, the government has not changed the Petroleum Levy on Petrol and it will remain at the existing level of Rs 55/litre, however, for the HSD it has been reduced by Rs 5/litre from the earli­er Rs 55/litre to Rs 50/litre. The GST will remain zero on both the products. Ear­lier, the government used to share increase/decrease in the prices of HSD, pet­rol, Kerosene and Light Die­sel oil, however, since the last few months it is mere­ly sharing the prices of Pet­rol and HSD. The prices of petroleum products will be effective from 16 August, 2023 till further revision which is due on 31 August.

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