ISLAMABAD: The federal government Tuesday announced a significant increase in the prices of petroleum products, ie, up to 7.9 percent in a fortnightly review of second half of the current month (December 16-31).
In a statement, the Finance Division said the rates of petrol, high-speed diesel (HSD), kerosene oil (SKO), and light diesel oil (LDO) increased with different ratios.
Following revision in the rate of petroleum products, the price of petrol has been set at Rs103.69 per litre from Rs100.69 per litre. The rate of HSD has been fixed at Rs108.44 per litre from Rs105.44 per litre in the first half of the current month.
The prices of SKO and LDO both have been increased by Rs5 per litre. The price of SKO increased to Rs70.29 per litre from Rs65.29 per liter, an increase of 7.6 percent. The rate of LDO also revised to Rs67.86 from Rs62.86 per litre, an increase of 7.9 percent.
The petroleum prices have been increased in the wake of an increase in global oil prices. The Oil and Gas Regulatory Authority (Ogra) computed ex-depot prices for the last 16 days of December. The regulator recommended on Monday Rs5 per litre in the prices of petrol and HSD. The calculation was based at 17 percent general sales tax (GST) and Rs28.68 per litre petroleum levy.
Copyright Business Recorder, 2020
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