Petrol price increases to record high at Rs127.30/liter

Petrol price increases to record high at Rs127.30/liter

ISLAMABAD: The government on Thursday announced to increase per liter petrol price by Rs4 to Rs127.30, which is a record high price in the history of the country.

Besides, the government also decided to increase prices of other petroleum products that will be effective from October 01, 2021.

The price of high-speed diesel has been increased by Rs 2 per liter, from Rs120.04 to Rs122.04, kerosene oil by Rs7.05, from Rs92.26 to Rs99.31 whereas the price of light diesel has been hiked by Rs8.82 per liter, from Rs 90.69 to Rs 99.51.

An official statement said that despite a considerable increase in petroleum products in the international market, the government enhanced petrol prices by just Rs 4 per liter by making adjustment in sales tax and petroleum levy.

The new prices would be effective from October 1 for next fortnight, said a press statement issued by the Finance Ministry.

The statement added that due to the increase in petroleum prices in the international market and exchange rate variations in the last fortnight, the OGRA had worked out the higher petroleum prices but the prime minister decided against the recommendations and passed on the minimum increase in prices to the consumers.

The government has absorbed the higher international pressure of prices through reduction in petroleum levy and sales tax.

The statement also mentioned that petroleum prices in Pakistan were the cheapest in the region.

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