Petrol price up by Rs4 per litre, diesel by Rs3

ISLAMABAD: The government has increased the price of petrol by Rs4 per litre and of High Speed Diesel by Rs3 per litre to be effective from today (April 1). However, the prices of kerosene oil and High Octane Blending Component (HOBC) will remain unchanged.
According to an announcement by the Finance Ministry, Federal Minister for Finance Ishaq Dar, after due approval from the prime minister, said that the prices of kerosene oil and HOBC would remain unchanged from April 1, while the prices of petrol will increase by Rs4 per litre and High Speed Diesel will be increased by Rs3 per litre.The Oil and Gas Regulatory Authority (Ogra) had proposed the increase on the basis of the actual purchases made during March 2015.
Now, with the increase by Rs4 per litre, the new price of petrol will stand at Rs74.29 per litre. Likewise, the new price of High Speed Diesel will now become Rs83.61 per litre after it was increased by Rs3 per litre.
Ogra had recommended the increase in the price of High Speed Diesel by Rs6.25 per litre. The regulator had also recommended the raise in the price of HOBC by Rs7.66 per litre and kerosene oil by Rs1.56 per litre. However, the government has not increased the prices of HOBC, kerosene oil and Light Diesel Oil.
Mehtab Haider adds: The government has slashed the GST rate on High Speed Diesel from 37 percent to 32 percent with effect from April 1.The GST rate for all the remaining POL products will remain unchanged.
FBR Chairman Tariq Bajwa confirmed to The News on Tuesday night that the GST rate for HSD was reduced to 32 percent while the rate for all other POL products would remain unchanged.