The federal government on Sunday increased the prices of petroleum, oil and lubricants, with petrol price soared by Rs 6 per litre. The new price of petrol will now be Rs 98.89 per litre. The price of high speed diesel was also increased by Rs 6 per litre, lifting it to Rs 117.43 per litre. Similarly, the prices of light diesel oil and kerosene oil went up by Rs 3 per litre each, taking them to Rs 80.54 and Rs 89.31 per litre, respectively. The new prices will be effective from midnight on April 1.
When contacted, official sources said that Federal Board of Revenue (FBR) would continue to charge standard rate of 17 percent sales tax on four petroleum products from April 1, 2019. This standard rate would be applicable on motor spirit, high speed diesel, Kerosene oil and light diesel oil. As there is no change in the rates of sales tax on POL products during April 2019, FBR has not issued any fresh notification. In January 2019, sales tax on motor spirit, high speed diesel oil, kerosene and light diesel oil was increased from 8 percent, 13 percent, 2 percent and 0.5 percent, respectively, to 17 percent. During February and March 2018, the FBR charged 17 percent sales tax and the same standard rate would continue in April 2019.