ISLAMABAD: The government on Thursday announced increase in petroleum prices to be implemented midnight with effect from July 16, 2021 for next fortnight.
The government announced an increase of Rs5.4 to Rs118.09 in price of petrol from Rs112.69.
Likewise, the prices of high speed diesel increased by Rs2.54 per liter, from Rs113.99 to Rs116.53; kerosene oil by Rs1.39 per liter, from Rs85.75 to Rs87.14 whereas the price of light diesel oil increased by Rs1.27, from Rs83.40 per liter to Rs84.67 per liter.
The Oil and Gas Regulatory Authority (OGRA) had recommended Rs11.50 increase in per liter petrol, however the Prime Minister, considering to provide maximum relief to the public allowed only Rs5.4 liter increase, said a press statement issued by the Finance Ministry here.
In this way, the government observed Rs6.10 price hike in the commodity, it added. “The government has been providing maximum relief to the consumers by reducing the price of the petroleum products since April 2021,” it added.
The statement said that although the international oil prices have been on rise, the government took the decision not to pass on the entire burden of increase to the consumers.
The rates of sales tax and petroleum levy have been adjusted in a manner that maximum relief is provided to the consumers.