Price of Petrol up by Rs 12.03 per liter
The government on Tuesday dropped an oil bomb on the consumers by making a massive increase in the price of petrol by Rs 12.03 per liter.
The price will be effective from February 16, 2022.
The price of petrol in Pakistan has gone up Rs 159.86 per liter.
The finance ministry in a statement said that the prices of Petroleum Products are showing a drastic increase in the international market and presently are at the highest level since 2014.
It said that despite the unabated increase since the beginning of the year, Prime Minister Imran Khan deferred the last review of Petroleum Products’ prices on 31 January 2022, and advised against the summary of OGRA.
In order to provide utmost relief to the consumers, the Government levied zero percent Sales Tax and reduced the Petroleum Levy rate against the budgeted targets.
Refineries offer discounted Furnace Oil Prices for Power Plants
Resultantly, the finance ministry said that the government is bearing the revenue loss of around basis Rs. 35 billion on fortnightly bs on account of budgeted to existing PL and ST rates.
In the fortnightly review of Petroleum Products’ prices, Prime Minister has considered the recommendation to increase the prices of petroleum products in line with the change in the international oil prices.
Despite the increase in the prices of Petroleum Products, PL and ST have been kept to a minimum.
The price of petrol will now be available in Pakistan at Rs 159.86 against Rs 147.83 per liter with an increase of Rs 12.03 per liter.
The government increased the price of High Speed Diesel (HSD) by Rs9.53 per liter.
The price of high-speed diesel goes up from Rs 144.62 per liter to Rs 154.15.
There is also a massive increase in the price of Kerosene (SKO) by Rs 10.08 per liter. It will now be available at Rs 126.56 against Rs 116.48 per liter.
There is also an increase of Rs 9.43 per liter in the price of Light Diesel Oil (LDO). It will be available at Rs 123.97 per liter against Rs 114.54 per liter with a hike of Rs 9.43 per liter.
