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Business & Finance

Govt approves increase in Petrol, Diesel rates

  • PM has approved the increase In Petrol price by Rs 3.20 per liter, the rate of diesel increased by Rs 2.95 per liter, light diesel price has been hiked by Rs 4.42 per liter, whereas, kerosene rate increased by Rs 3 per liter.
Updated 16 Jan 2021

The Federal government on Friday has approved an increase in the rates of POL products.

As per details, Prime Minister Imran Khan has approved the increase In Petrol price by Rs 3.20 per liter, the rate of diesel increased by Rs 2.95 per liter, light diesel price has been hiked by Rs 4.42 per liter, whereas, kerosene rate increased by Rs 3 per liter.

New Prices w.e.f. 16-01-2021 Petrol Rs 109.20 per liter , High Speed Diesel (HSD) Rs 113.19 per liter, Kerosene (SKO) Rs 76.65 per liter, Light Diesel Oil Rs 76.23.

Earlier, the Oil and Gas Regulatory Authority (OGRA) forwarded a summary to the Prime Minister, under which the price of petrol has been proposed to increase by Rs 13.7 per liter, high-speed diesel by Rs 11.3 per liter, kerosene by Rs 10.55 per liter, and light diesel by Rs 15.33 per liter.

It has also recommended levying 17 percent GST and Rs 30 levy on the prices of petroleum products.

Weeks ago, Prime Minister Imran Khan approved increase of Rs. 2.31 and Rs. 1.80 in the prices of petrol and diesel, contrary to OGRA’s recommendation of Rs. 10.68 and Rs. 8.37 respectively. The decision was taken keeping in view the government’s priorities for maximum possible steps to provide relief to the masses, a PM Office statement said.

As per the government’s fortnightly pricing strategy, the latest prices will be taken into effect from January 16 at 12:00 AM. The new prices of petroleum products are effective till 31st Jan, 2021.