Petrol prices likely to increase from October 1

Sept 30, 2021: Government likely to increase petrol price by Rs5.25 per litre from October 1.

Citing a proposal sent to the Finance Division by the Oil and Gas Regulatory Authority (OGRA), sources said on Wednesday that the price of petrol is expected to increase by Rs 5.25 per liter from October 1.

Diesel price is expected to increase by Rs 3.5 per liter, sources said, adding that the Finance Ministry would take a final decision in this regard after consulting Prime Minister Imran Khan. The government had on September 15 announced a Rs 5 hike in petrol price “due to fluctuations in petroleum prices in the international market and changes in the exchange rate”.

According to the notification of the Finance Division, the increase in petroleum products other than petrol will also be implemented from September 16.

Petrol is going up by Rs 5 to Rs 123.30 per liter while high speed diesel is going up by Rs 5.01 to Rs 120.04 per liter.

In addition, kerosene rose by Rs 5.46 to Rs 96.26 per liter, while light diesel oil rose by Rs 5.92 to Rs 90.69 per liter.

Sources said that the final decision on the prices of petroleum products would be taken by the Prime Minister and the levy and taxes would be revised in consultation with the Finance Ministry.

According to sources, changes in the prices of petroleum products will depend on levies and GST.

It should be noted that at present the levy on petrol is Rs 5.62 per liter while the levy on diesel is Rs 5.14 per liter.

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