Govt hikes petrol price by Rs2.61

Govt hikes petrol price by Rs2.61

Petrol price increased by Rs 2.61/litre

Earlier, the Oil and Gas Regulatory Authority (OGRA) suggested that petroleum price products should increase by up to 3.2%.

According to Finance Division, the new price of Petrol is now 116.60 rupees per liter while High Speed Diesel has been fixed 127.26 rupees.

The price of light diesel is increased by Rs2.08. The government has given a gift to the people on New Year 's Eve by increasing the price of petroleum products.

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The government is now charging 17% general sales tax (GST) on all petroleum products.

OGRA also increased the price of keresone (KSO) with a maximum difference of Rs3.10 as old Rs96.26 prices will be Rs99.45 from Jan 1, 2020.

HSD is used in heavy transportation fuel, LDO in industries, petrol is being used in public transportation while kerosene is used for cooking purposes, especially in remote areas where LPG or pipeline gas is not available.

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The Department of Mineral Resources and Energy has announced a drop in the petrol price, which will see a litre of 93 (ULP and LRP) come down by 4 cents.

For December 2019, Ogra had notified LPG price at Rs1,513.69/cylinder or Rs128.27/kg.

The decision finally reveals that the revised tariff works out as Rs17.69/kWh and the total impact amounts to around Rs106 billion.

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