Daily Times

The federal government on Tuesday increased the price of petrol by Rs 2.13 per litre for the next 15 days of June 2021, according to a notification issued by the Finance Ministry.

The government approved a Rs 2.13 per litre increase in price of petrol and Rs 1.79 per litre in diesel’s. The price of kerosene oil has been increased by Rs 1.89 per litre while the rate of light diesel has been jacked by Rs 2.03 per litre.

After the increase, the current price of petrol stands at Rs 110.69 per litre, whereas the per-litre prices of diesel, kerosene oil, and light diesel are Rs 112.55, Rs 81.89 and Rs 79.68 respectively.

The Oil and Gas Regulatory Authority (Ogra) had proposed a hike in fuel prices by over Rs 4 per litre for the next 15 days starting from June 16. The authority had suggested an increase in diesel prices by Rs 3.50 per litre. It has emerged that the fuel prices have been hiked while maintaining the levy currently applied to these products. Currently, a levy of Rs 4.80 per litre is being charged on petrol and Rs 5.14 per litre on diesel.

Last week, Finance Minister Shaukat Tarin had indicated that the prices of petroleum products would be increased in the coming month as talks with the International Monetary Fund (IMF) continue over the stabilisation of revenue collection. He had said that the petroleum levy would be increased up to Rs 600 billion in the coming fiscal year so the levy will have to be jacked up in the range of Rs 20 to Rs 25 per litre, while currently Rs 5 per litre levy is being charged. He had also said that Saudi Arabia had agreed to provide oil on deferred payments, but it could not be ascertained how much oil Pakistan would get.