POL prices increased; petrol rate increased to Rs91.96/liter


ISLAMABAD: The caretaker government on Monday announced hike in petroleum prices effective from June 12, 2018. The price of petrol has been increased by Rs4.26 to Rs91.96 per liter.
According to a notification, the price of high speed diesel has been increased by Rs6.55 percent to Rs105.31 per liter. Kerosene oil price has been increased by Rs4.46 to Rs84.34 and the price of light diesel oil has been increased by 6.14 to Rs74.99 per liter.
Oil and Gas Regulatory Authority (OGRA) had proposed an increase in the price of petrol by Rs8.37 per liter, High Speed Diesel by Rs12.50, Superior Kerosene Oil by Rs8.22 and Light Diesel OIl by Rs11.65 per liter for the month of June 2018.
The previous government decided to maintain the May 2018 prices till June 07, 2018 and decision of increase was left to the caretaker government.
To provide relief to the common man in the holy month of Ramadan the caretaker government has decided to pass only a partial impact of increase and the government will absorb 50 percent of impact of increase effective from June 12, 2018.
The prices will be effective from June 12, 2018 till mid night on June 30, 2018.
The Federal Board of Revenue (FBR) also issued Sales Tax SRO 729 on Monday to revise the sales tax on supply of petroleum products.
The new sales tax rates on POL products are as: Petrol 12 percent; HSD 24 percent; kerosene 12 percent and light diesel oil 9 percent.