ISLAMABAD: Federal government on Monday made a massive increase in the price of petroleum products up to Rs 9.99 per litre for fortnight starting from July 16, 2024. The statement of Finance Division says that the petrol price has been raised by Rs 9.99 per litre, and high speed diesel (HSD) price by Rs 6.18 per litre owning to raise price of oil globally.

Finance Division says, “The Oil and Gas Regulatory Authority (OGRA) has worked out the consumer prices, based on the price variations in the international market.”

Following the announcement of new ex-depot price of petroleum products, the petrol price has gone up from Rs 265.61 per litre to 275.60 and HSD price has risen from Rs 277.45 to Rs 283.63 per litre.

Govt increases petrol price by Rs7.45, takes it to Rs265.61 per litre

Finance Division said that there will be no change in the applicable petroleum levy (PL) and general sale tax (GST) under the new prices which will remain at the existing level, meaning that the PL remains the same in the latest fuel price review.

Copyright Business Recorder, 2024