ISLAMABAD – The federal government on Wednesday approved an increase of Rs2 per litre in petrol price for first half of July.
Special Assistant to PM on Political Communication Shehbaz Gill said that the latest hike in petroleum price was made after getting approval from Prime Minister Imran Khan.
The price of high-speed diesel has been increased by Rs1.43/litre.
The following will be the new prices of petroleum products w.e.f 1st July 2021:
|Product||Existing Prices |
|New Prices |
|Increase (+) /|
|High Speed Diesel (HSD)||112.55||113.99||+1.44|
|Light Diesel Oil||79.68||83.40||+3.72|
In an official statement, the government said that it has maintained the practice of keeping the prices of petroleum products at an affordable level to provide maximum relief to the consumers.
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 the last six years.
During the financial year 2020-21, the government has provided Rs. 252.41 billion subsidy to the consumers by keeping low the petroleum levy rates against the budgeted Rs. 30/liter on all products, read the press release.
The petrol and diesel prices are comparatively lower than regional neighbours like India, China and Sri Lanka.