Resulting in an increase in international crude oil prices, the government raised the price of petrol by Rs5.00 per liter on Thursday and the rate of high-speed diesel (HSD) by Rs5.01 per liter for the next two weeks.
Fuel prices have climbed to their highest level in Pakistani history, with the government announcing an Rs5 per liter hike, putting the new price to Rs123.30 per liter.
The prices of kerosene and light-diesel oil (LDO) have also been raised by Rs5.46 and Rs5.92 per liter, accordingly.
Petrol is mostly used in vehicles and motorbikes in Pakistan. Diesel is commonly used in agriculture as well as transportation. When Liquified Petroleum Gas (LPG) is unavailable in rural areas, kerosene is utilized for cooking. LDO is utilized in the industrial industry.
The previous maximum price of fuel, according to Petroleum Division sources, was Rs 120.83 per liter, announced in July 2021.
All petroleum products are also subject to a 17.5% general sales tax (GST). In addition, it collects the petroleum levy (PL) on these products, which is paid directly by consumers.