Petrol, diesel, kerosene prices go up

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 liter.

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.