ANL 10.51 Decreased By ▼ -0.77 (-6.83%)
ASC 9.33 Decreased By ▼ -0.67 (-6.7%)
ASL 10.51 Decreased By ▼ -0.49 (-4.45%)
AVN 68.40 Decreased By ▼ -3.90 (-5.39%)
BOP 5.92 Decreased By ▼ -0.14 (-2.31%)
CNERGY 5.20 Decreased By ▼ -0.32 (-5.8%)
FFL 6.41 Decreased By ▼ -0.39 (-5.74%)
FNEL 6.10 Decreased By ▼ -0.18 (-2.87%)
GGGL 11.05 Decreased By ▼ -0.27 (-2.39%)
GGL 15.17 Decreased By ▼ -1.25 (-7.61%)
GTECH 9.00 Decreased By ▼ -0.92 (-9.27%)
HUMNL 6.35 Decreased By ▼ -0.50 (-7.3%)
KEL 2.55 Decreased By ▼ -0.15 (-5.56%)
KOSM 2.89 Decreased By ▼ -0.16 (-5.25%)
MLCF 28.65 Decreased By ▼ -1.01 (-3.41%)
PACE 2.90 Decreased By ▼ -0.20 (-6.45%)
PIBTL 6.00 Decreased By ▼ -0.10 (-1.64%)
PRL 14.75 Decreased By ▼ -0.61 (-3.97%)
PTC 6.93 Decreased By ▼ -0.10 (-1.42%)
SILK 1.01 Decreased By ▼ -0.06 (-5.61%)
SNGP 26.60 Decreased By ▼ -0.85 (-3.1%)
TELE 10.18 Decreased By ▼ -0.97 (-8.7%)
TPL 9.00 Decreased By ▼ -0.32 (-3.43%)
TPLP 15.76 Decreased By ▼ -1.29 (-7.57%)
TREET 30.05 Decreased By ▼ -1.50 (-4.75%)
TRG 73.71 Decreased By ▼ -1.96 (-2.59%)
UNITY 21.57 Decreased By ▼ -0.99 (-4.39%)
WAVES 12.30 Decreased By ▼ -0.88 (-6.68%)
WTL 1.45 Decreased By ▼ -0.10 (-6.45%)
YOUW 4.91 Decreased By ▼ -0.33 (-6.3%)
BR100 4,220 Decreased By -102.1 (-2.36%)
BR30 14,376 Decreased By -657.6 (-4.37%)
KSE100 42,679 Decreased By -827.1 (-1.9%)
KSE30 16,249 Decreased By -290 (-1.75%)
Pakistan

Petrol price increased by Rs3.01 per litre, hits new high

  • Rate, applicable from January 16, will be Rs147.83 per litre
  • Prices of high-speed diesel, kerosene, and light diesel oil also raised
15 Jan, 2022

The government on Saturday increased the prices of petroleum products following fluctuation in global oil rates.

Prices of petrol and high-speed diesel were hiked by Rs3.01 per litre and Rs3.00 per litre, respectively.

The new price of petrol will be Rs147.83, highest in history, against the previous Rs144.82 per litre. The new price of HSD will be Rs144.62 per litre as against Rs141.62 per litre.

Meanwhile, the prices of kerosene and light diesel oil (LDO) were also increased by Rs3 and Rs3.33 per litre, respectively. The new price of kerosene is Rs116.48 per litre and that of light diesel oil is Rs114.54 per litre.

Prices of petroleum products may soar further

"Against the recommendation of OGRA for an increase of Rs5.52/litre in petrol and Rs6.19/litre in HSD prices, the Prime Minister has directed to absorb the international prices through a further cut in Sales Tax," read a notification issued by the Finance Division.

"The finance ministry will take Rs2.6-billion hit on revenue due to reduced Sales Tax," it said.

"Petroleum products are showing a fourth-straight weekly gain and witnessed an increase of 6.2% just in last week in the international market," added the notification.

"The existing Sales Tax rate and Petroleum Levy on various petroleum products are much below the budgeted targets."

Petrol prices are a major component of Pakistan's inflationary calculations.

Sources said that depreciating rupee and rise in the price of Brent Oil forced the government to increase the prices.

The government has already fulfilled its commitment to raise the price by Rs4 per litre on account of petroleum levy each month by doing so in the first half of January.

Comments

Comments are closed.