ISLAMABAD – The government is likely to raise petroleum prices from May 1st (Tuesday), a summary regarding which has been sent to Oil and Gas Regulatory Authority.
The increase in the prices of petroleum products is primarily due to the fluctuations in global oil prices.
According to the proposed swell, the price of petrol would go up by Rs3.22 per litre, diesel by Rs5.2, kerosene oil by Rs6.97 and light diesel by Rs6.95.
The new prices of petroleum products, if the summary is approved, would be:
- Per litre petrol would cost Rs89.22
- Diesel Rs101.47 per litre
- Kerosene oil Rs83.43 per litre
- Light diesel Rs72.25 per litre
Besides petroleum prices, an increase in the taxes on petroleum products has also been recommended.
The taxes could be increased by 200 percent, as suggested in the new budget for the fiscal year 2018-19, presented by the government of Pakistan Muslim League-Nawaz with an outlay of Rs5,932.5 billion.
