The government on Friday jacked up the price of petrol by Rs4 per litre effective from Saturday, January 1, to meet the petroleum levy target agreed with the International Monetary Fund (IMF).
According to a notification issued by the Finance Division, the new price of petrol will be Rs144.82 per litre against the previous rate of Rs140.82 per litre.
The government also increased the price of high-speed diesel by Rs4 per litre. After the increase, the price will jump to Rs141.62 per litre from the existing Rs137.62 per litre.
As per the notification, the kerosene price has been increased by Rs3.95, and light diesel oil by Rs4.15 per litre.
The rate of light diesel oil will go up to Rs111.06 per litre from Rs107.06 per litre. Similarly, the kerosene price will go up from Rs109.53 to Rs113.53 per litre.
Price of petroleum products
|Product||Existing prices (per litre)||New prices|
01.01.2022 (per litre)
|High-Speed Diesel (HSD)||Rs137.62||Rs141.62||+4.00|
|Light diesel oil (LDO)||Rs107.06||Rs111.06||+4.15|
In the fortnightly review of the prices of petroleum products, the prime minister rejected a proposal of the Oil and Gas Regulatory Authority (OGRA) and instructed an increase of only Rs4 per litre to meet the petroleum levy target agreed with the IMF, a statement by the Finance Division said.
The Finance Division also said that sales tax on petrol and diesel has been adjusted downwards as compared to December 16, 2021, to keep the prices lower.
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