ISLAMABAD: The government on Wednesday announced an increase in price of petrol by Rs2 to Rs112.69 per liter from Rs110.69 with effect from July 01, 2021.
A statement said that the price of high speed diesel (HSD) has been increased by Rs1.44 to Rs113.99 per liter from Rs112.55.
The price of kerosene oil has been increased by Rs3.86 to Rs85.75 per liter from Rs81.89.
Similarly, the price of light diesel oil has been increased by Rs3.72 to Rs83.40 per liter from Rs79.68.
The statement said that in order to provide maximum relief to the consumers, the government has maintained the practice of keeping the prices of petroleum products at an affordable level.
OGRA has been recommending substantial increase in the prices of Petroleum products since 1st May 2021, corresponding to the increase in prices of the petroleum products in the International markets.
However, keeping in view the welfare of the general public, the government has absorbed the impact of the increase by making adjustments in sales tax and petroleum levy.
Currently, the petroleum levy rates are at the lowest of last six years.
During the financial year 2020-21, the government has provided Rs252.41 billion subsidy to the consumers by keeping low the petroleum levy rates against the budgeted Rs. 30/liter on all products.
It is also worth mentioning that as compared to our regional neighbours, Government of Pakistan is providing Petrol and Diesel at the lowest level rates.