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August 1, 2020

Petrol, diesel, kerosene prices go up

Top Story

August 1, 2020

ISLAMABAD: The government Friday increased petroleum products prices for August, with petrol price made dearer by Rs3.86/litre and diesel by Rs5/litre. Besides, light diesel oil (LDO) price has also been increased by Rs6.62/litre and kerosene by 5.97 per litre.

It is worth mentioning that the Petroleum Ministry had suggested an increase of Rs7/litre in petrol price,Rs9.5 in diesel price, Rs6.21 in LDO prices and Rs6 increase in kerosene price. With the increase, petrol price has gone up from current Rs100.11 to Rs103.97/ litre, diesel from Rs101.46 to Rs106.46/litre, LDO from current Rs56.24 to Rs62.86/litre and kerosene to Rs65.29 from current Rs59.32/litre.

It is worth mentioning that last month, the government had made a hefty increase of up to 66 percent in petroleum products’ prices by jacking up prices of petrol by Rs25.58/litre, diesel Rs21.31/litre and kerosene by Rs23.50/litre and LDO by Rs17.84/litre.

The government is currently charging Rs30 per litre petroleum levy (PL) on petrol and diesel, while Rs6/litre on kerosene and Rs3/litre on LDO.

The government is also charging 17 percent general sales tax (GST) on all petroleum products. For the last more than a month, the Brent price in international market is almost stagnant, and is hovering the range of $41 to 44/barrel.