Petrol price spikes once again
The government has increased the prices of petroleum products, 24NewsHD TV channel reported late on Saturday.
Petrol price surged by Rs3.1 per litre, light speed diesel by Rs3.3, according to a notification issued by the Finance Division. It added the prices of high speed diesel and kerosene oil went up by Rs3.5 per litre.
The government cited an increase in petroleum product prices in the international market as the reason for the decision.
The new price of petrol is Rs147.83 per litre, high speed diesel (HSD) Rs144.62 per litre, kerosene Rs116.48 and light speed diesel Rs114.54 per litre. Ogra recommended an increase of Rs5.52 per litre in petrol price and Rs6.19 per litre in HSD.
The Finance Division said that the existing sales tax rate and petroleum levy on various petroleum products are much below the budgeted targets.