ISLAMABAD: The federal government is likely to increase the price of petrol by Rs8.69 per litre and high-speed diesel (HSD) by Rs29.94 per litre based on current government taxes with zero petroleum levy (PL) and general sales tax (GST) for the next fortnight with effect from June 16.

According to the calculation of oil marketing companies/ refineries, the government may raise the price of petrol by Rs8.69 per litre from Rs206.42 to Rs215.11 per litre.

The price of other fuel HSD mostly used in agriculture and transport sectors may also increase by Rs29.94 per litre from Rs219.11 to Rs249.05 per litre.

The rate of kerosene oil (SKO), a subsidised sector, may also be raised by Rs26.84 per litre to Rs202.40 per litre from Rs175.56 per litre. The price of light diesel oil (LDO) will also likely go up by Rs27.17 to Rs201.29 per litre from Rs174.12 per litre.

POL products’ prices hiked by Rs30 per litre

The ex-depot price of petrol has been determined to increase by Rs18.01 per litre from Rs209.86 to Rs227.87 per litre and HSD price also likely to increase by Rs52.99 per litre from Rs204.15 to Rs257.14 per litre.

The value of US dollar against Pak rupee has also increased from Rs200.31 to Rs201.89 or Rs1.59 increase in the first half of June.

Federal Finance Minister Miftah Ismail has repeatedly said that the government may increase the prices of petroleum products in the coming days.

“Petroleum prices will further go up in the coming days," he said.

Copyright Business Recorder, 2022