ISLAMABAD: First gift of the year 2020 was given to people to feel the pinch of increased petrol prices from today (Wednesday) after the Ministry of Finance announced it had accepted a summary of the Oil and Gas Regulatory Authority (OGRA) to raise prices of petroleum products.
The price of diesel has been hiked by Rs 2.25 and kerosene by Rs 3.10 per litre, according to a notification from the finance ministry.
Petrol will now be available for Rs 116.60 per litre, light diesel Rs 84.51 per litre and kerosene will now be sold at Rs 99.45 per litre.
OGRA had recommended to the Petroleum Division to increase prices of petroleum related products for the month of January 2020, on Monday.
In percentage terms, the petrol price has been increased by 2.29 per cent, diesel 1.8 per cent and kerosene 3.22 per cent as compared to the previous month. From January, the government will be charging 17 percent general sales tax (GST) on all petroleum products.
The government is also collecting petroleum levy on these products which is taken from the consumers. Currently, the government is charging Rs 18 per liter petroleum levy on high speed diesel, Rs 15 on petrol and Rs 6 on kerosene.
Moreover, the government has also increased the price of Liquefied Petroleum Gas (LPG) by Rs 277.79 to Rs 1,791.48 per 11.8/kg cylinder for January 2020.
After hading down the first gift for people of Pakistan, the Ogra notified that the new prices, under which the LPG price has been increased by Rs 23.54/kg to Rs 151.82/kg. For December 2019, the Ogra had notified LPG price at Rs 1,513.69/cylinder or Rs 128.27/kg.
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