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ISLAMABAD: The government has increased petrol price by Rs5.40 per litre and High-Speed Diesel (HSD) by Rs2.54 per litre, whereas, the prices of kerosene oil and light diesel have been increased by Rs1.39 per litre and Rs1.27 per litre, respectively. According to the Finance Ministry, petrol price has been increased from Rs112.69 per litre to Rs118.09/liter following Rs5.40, High Speed Diesel (HSD) from Rs113.99 per litre to Rs116.53 litre, subsequent to Rs2.54 increase, Kerosene Oil (SKO) from Rs85.75 per litre to Rs87.14 per litre after Rs1.39 increase in per litre price, and light diesel oil Rs83.40 per litre from Rs84.67 per litre subsequent to Rs1.27 per litre increase.

The Finance Ministry said the government has been providing maximum relief to consumers by reducing the prices of the petroleum products since April 2021.

Although the international oil prices have been on the rise, the government took the decision not to pass on the entire burden of increase to consumers.

It further stated that the rates of sales tax and petroleum levy have been adjusted in a manner that maximum relief is provided to consumers.

The Ogra had recommended Rs11.50/liter increase in the price of petrol, the prime minister, however, considering providing relief to public and hence has allowed only Rs5.40 litre (absorbing Rs6.10 litre) hike.

The new prices of the petroleum products would be applicable from July 16, 2021.

Copyright Business Recorder, 2021

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