Prices of petroleum products raised by up to Rs4.75

Published March 1, 2019
The price of petrol is increased by 2.76 per cent and that of high speed diesel by 4.45pc.— Reuters/File
The price of petrol is increased by 2.76 per cent and that of high speed diesel by 4.45pc.— Reuters/File

ISLAMABAD: The government on Thursday increased the prices of petroleum products by up to Rs4.75 per litre for the month of March to pass on the impact of higher international prices to consumers.

In a decision announced by the Ministry of Finance, the price of petrol was increased by 2.76 per cent and that of high speed diesel (HSD) by 4.45pc. The price of kerosene oil was increased by 4.85pc and that of light diesel oil (LDO) by 3.33pc.

Take a look: Govt reduces petrol price by 59 paisas for February

The ministry said the ex-depot price of petrol (MS 92 RON) had been raised to Rs92.88 per litre from Rs90.38, showing an increase of Rs2.50. The Oil and Gas Regulatory Authority (Ogra) had worked out an increase of Rs4.71 per litre.

Likewise, the ex-depot price of HSD was raised to Rs111.43 per litre from Rs106.68, showing an increase of Rs4.75. Ogra had calculated an increase of Rs9.44 per litre.

The government fixed the ex-depot price of kerosene at Rs86.31 per litre, up by Rs4 from Rs82.31. The regulator had proposed Rs8.06 per litre increase.

Similarly, the ex-depot price of LDO was increased to Rs77.53 per litre from Rs75.03, up by Rs2.50. The regulator had worked out Rs5.12 per litre increase.

The government has generally been charging 17pc GST on all petroleum products, besides petroleum levy at a rate of Rs18 per litre on HSD, Rs14 on petrol, Rs6 on kerosene and Rs3 on LDO.

Petrol and HSD are two major products that generate most of revenue for the government because of their massive and yet growing consumption in the country. Sales of HSD are touching 800,000 tonnes per month and of petrol around 700,000 tonnes. Sales of kerosene and LDO are generally less than 10,000 tonnes per month.

Published in Dawn, March 1st, 2019

Opinion

Editorial

The establishment pivot
18 Jan, 2022

The establishment pivot

It is a sad reality that the power matrix continues to revolve around the establishment.
18 Jan, 2022

Remittances growth

THE hefty growth in remittances from Pakistanis living abroad continues to defy forecasts to the contrary. New State...
18 Jan, 2022

China-Iran deal

THE China-Iran strategic deal that has recently taken effect is more than just a long-term bilateral agreement...
Security policy unveiled
Updated 17 Jan, 2022

Security policy unveiled

PAKISTAN’S freshly unveiled National Security Policy has broadened the traditional concept and included economic...
Bold decisions
Updated 17 Jan, 2022

Bold decisions

IT is a double blow within a matter of days. The Islamabad High Court’s order last week to demolish a navy golf...
17 Jan, 2022

Rohingya camp blaze

A HUGE blaze in a refugee camp housing members of the Rohingya community in Bangladesh last week has left up to ...