Govt jacks up petrol price by Rs1.71 per litre
Circular debt in oil and gas sectors is worsening and with the accumulation of subsidy or price differential claims, the debt will increase further in coming days. PHOTO: file
The government on Friday jacked up the price of petrol by Rs1.71 per litre effective from August 1 (Sunday), following fluctuation in the global oil prices. The Finance Division issued a statement in this regard on Saturday.
The decision was made as per the recommendation of Oil and Gas Regulatory Authority (Ogra). The new price of petrol will be Rs119.80 per litre against the current rate of Rs118.09 per litre.
However, there was no change in the price of high speed diesel (HSD). HSD, which is majorly used by the agriculture and transport sectors, will continue to be sold at Rs116.53 per litre.
The price of light diesel oil (LDO) was also kept unchanged at Rs84.67 per liter. The commodity is primarily used by the industrial sector.
The price of kerosene oil was also increased by Rs0.35 per litre to Rs87.49 per litre against Rs87.14 per litre.
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Kerosene oil is used by the Pakistan armed forces and in remote areas like northern parts of the country for cooking purposes where LPG is not available.
On July 15, the government had increased the price of petrol by Rs5.40 per litre and that of HSD by Rs2.54 per litre. The prices of kerosene and LDO were also raised by Rs1.39 and Rs1.27, respectively.
This was the second time the prices of petroleum products had been increased in the last 15 days.
Earlier, the government had increased the prices of all petroleum products by up to 4.7% at the beginning of July to pass on "partial impact" of rise in international prices.
The ex-depot price of petrol was increased by Rs2 per litre and that of HSD by Rs1.44 per litre. The ex-depot price of kerosene was increased by Rs3.86 per litre and that of LDO by Rs3.72 per litre, respectively.