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Government increases petrol price by Rs 3.01 per litre



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ISLAMABAD:- The government on Saturday jacked up the price of petrol by Rs 3.01 per litre with immediate effect.

According to a statement issued by the Finance Ministry, the government absorbed the oil price-hike in the international market and decided to make partial increase in the prices of petroleum products in order to provide relief to the end consumers.

The petroleum products were showing fourth straight weekly gain and witnessed an increase of 6.2 percent just in last week in the international market, presently, at the highest level since last year.

The statement said, the existing Sales Tax rate and Petroleum Levy on various petroleum products in Pakistan were much below than the budgeted targets. It said, against the recommendations of Oil and Gas Regulatory Authority (OGRA) for increase of Rs 5.52 per liter in the petrol and Rs 6.19 per liter in High Speed Diesel, the prime minister had directed to absorb the international prices through further cut in Sales Tax from last fortnight.

According to a notification issued in this regard, the new price of petrol will be Rs 147.83 per litre.

The prices of high-speed diesel (HSD) was increased by Rs3 per liter and will now cost Rs144.62 per liter.

The price of kerosene oil was also increased by Rs3 per liter to Rs116.48 per liter.

In addition, light diesel oil will cost Rs3.33 more and will thus be priced at Rs114.54 per liter.

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