The government increased on Wednesday the price of petrol by Rs5 per litre effective from September 16 (Thursday) following fluctuation in global oil prices.
The decision was made after the Oil and Gas Regulatory Authority (Ogra) worked out a massive increase in the prices of petroleum products with effect from September 16.
The new price of petrol will be Rs123.30 per litre against Rs118.30 per litre.
The price of HSD will also go up from Rs115.03 per litre to Rs120.04 per litre.
The price of kerosene oil has also increased from Rs86.80 per litre to Rs92.26 per litre.
Light diesel oil saw its rate go up from Rs84.77 per litre to Rs90.69 per litre.
Earlier, on the basis of current rates of general sale tax (GST) and petroleum levy (PL), Ogra recommended Rs10 per litre in the ex-depot price of high-speed diesel (HSD) in its fortnightly review.
It further recommended increasing the prices of kerosene oil (SKO) and light-speed diesel (LDO) by Rs5.50 per litre.
The petroleum levy on petrol is fixed at Rs2.11 per litre on petrol, Rs5.14 per litre on HSD, Rs2.06 on SKO, Rs1.51 per litre on LDO, and Rs30 per litre on HOBC.
Presently, the Federal Board of Revenue (FBR) is charging 10.54 per cent sales tax on petrol, high-speed diesel 17 per cent, kerosene 6.70 per cent, and sales tax on light diesel oil is 0.20 per cent.