ISLAMABAD: Prices of all key petroleum products are likely to go up by over Rs13 per litre from Feb 1 for the next fortnight, ARY News reported, citing informed sources.
They said the prices of petrol and diesel would go up by over Rs9 and Rs13 per litre, respectively, because of higher global oil prices and addition of Rs4 per litre levy.
Oil prices have surged by up to $5 per barrel in the global market, the sources said. In addition to that, they said the government has to increase levy on petroleum products by Rs4 per litre as committed with the International Monetary Fund (IMF).
Currently, sales tax on petrol is Rs2.9 per litre while that on high speed diesel Rs4.50 per litre, kerosene oil Rs5.26/litre and light speed diesel Rs2.80/litre.
The Ministry of Finance will announce the new prices of petroleum products after approval of Prime Minister Imran Khan. The new rates will be applicable from midnight on Feb 1.
On Jan 15, the federal government had jacked up prices of petroleum products by up to Rs3 per litre.
According to a notification issued by the finance ministry, the federal government increased petrol price by Rs3.01 per litre, high-speed diesel by Rs3 per litre and price of light diesel was jacked up by Rs3.33.
After the increase, the new price of petrol was fixed at Rs147.83 per litre, HSD Rs144.62. The price of Kerosine oil increased from Rs113.48 to Rs116.48 and light diesel oil from Rs111.06 to Rs114.54.
from ARY NEWS https://bit.ly/3KXkIw3
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