Caretaker govt increases petrol, diesel prices


ISLAMABAD: The caretaker government has increased the price of petrol, diesel and kerosene oil for the month of July 2018, as recommended by the Oil and Gas Regulatory Authority (OGRA).

The new prices will be petrol Rs 99.50, diesel Rs 119.31, kerosene oil Rs 87.70 and light diesel oil Rs 80.91, according to a notification issued here by the Finance Division. The statement said that the increase in the petroleum prices was caused due to increase (of petroleum prices) in the international market and depreciation of the rupees against the American dollar.

The official statement said that the financial impact of the dispensation would be implemented through the revision of the sales tax rates and the petroleum development levy. It said that the OGRA had proposed increase in the prices of petrol by Rs 7.55 per litre, diesel by Rs 14 per litre, kerosene oil by Rs 3.36 per litre and light diesel oil by Rs 5.92 per litre.

The regulatory authority has forwarded a summary to the Ministry of Energy’s Petroleum Division proposing the upward revision in prices of petroleum products. On June 11, the caretaker government had increased petrol prices by Rs4.260 per litre, diesel by Rs6.55/litre and kerosene by 4.46/litre for the period June 12 till midnight of June 30, 2018.