ISLAMABAD: The federal government Saturday announced raise in the ex-depot prices of petrol by 1.4 percent and kerosene oil (SKO) by 0.4 percent for first half of August in a fortnightly review.

The government has opted not to pass on recommended 1.9 percent decrease in the price of high speed diesel (HSD) and 0.3 percent Light Diesel Oil (LDO) but adjusted with taxes in the new ex-depot prices of petroleum products.

The prices of HSD and LDO have been kept unchanged. The Finance Division states that the price of petrol has increased by Rs1.71 per litre or 1.4 percent, from Rs118.09 per litre to Rs119.80 per litre.

The rate of SKO also increased from Rs87.14 per litre to Rs87.49 per litre or 35 paisa or 0.4 percent.

Petrol price increased by Rs1.71, now stands at Rs119.8 per litre

The government has raised the ex-refinery price of petrol from Rs96.05 per litre to Rs97.08 per litre and the general sales tax (GST) rate also increased from Rs11.48 per litre to 11.65 per litre.

The government is charging Rs1.90 PL on HSD and abolished PL on other petroleum products. The rate of GST is currently 10.77 per litre on petrol, 17 percent on HSD, 6.70 percent on SKO, and 0.20 percent on LDO.

The Oil and Gas Regulatory Authority (Ogra) had worked out hike in rates of petrol by Rs1.71 per litre.

The price of SKO had recommended increasing by 35 paisa and reduction in price of LDO by 24 paisa. Similarly, the price of HSD was also recommended to reduce by Rs2.27 per litre.

Copyright Business Recorder, 2021