Observer Report
According to the details, the prices of petrol in Pakistan has surged by Rs 3.2 today whereas the price of high-speed diesel has been increased by Rs 2.95 today.
Furthermore, the price of Kerosene oil has been increased by Rs 3 whereas the price of light diesel has been increased by Rs 4.42.
The new prices will be changed from tonight.
Prime Minister Imran Khan has approved the increase in the prices of petroleum products.
The prices of petroleum products have been increased for the second time this year.
Earlier:
On December 30th, the federal administration raised the petrol price by Rs3 per litre. The current prices were implemented on January 1, 2020. Following an statement by the Ministry of Finance, the prices of all petroleum goods were raised from 3 percent to 8 percent.
As per the announcement, the prices of High-Speed Diesel (HSD) had also been increased by Rs3. Furthermore, the rates of Kerosene Oil and Light Diesel Oil (LDO) were jacked up by Rs5, respectively.
In doing so, the government had taken a notable income hit, as it reduced its Petroleum Levy (PL). The ministry said that PL on petrol prices had been reduced by Rs4.50 per litre and about Rs2.51 per litre on HSD. Meanwhile, it reduced the Levy on kerosene oil by 55 paisa per litre and increased by about 65 paisa per litre on LDO.
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