By Staff Reporter
ISLAMABAD: The government has increased diesel prices by 2 percent or 5 rupees per litre to Rs251.29, while keeping petrol prices steady at Rs247.03 rupees for the next fortnight, the Ministry of Finance said late on Tuesday.
This is the first hike in the prices of petroleum products in three months, which have been constantly going down due to the falling prices in the international market.
The ex-depot price of high-speed diesel (HSD) rose by 2 percent from Rs246.29, while petrol prices remained unchanged after falling 10.3 percent over the last five fortnights.
The Oil and Gas Regulatory Authority adjusted prices based on international market fluctuations, where diesel prices rose $1.5 per barrel (3.5 percent) on average, while petrol remained range-bound.
Petrol prices have dropped Rs28.57 per litre over the last five fortnights, while HSD prices fell 12.9 percent (Rs36.34 per litre).
The government levies Rs76 per litre tax on petrol and HSD, representing a 30.6 percent and 30.2 percent tax-to-price ratio, respectively.
An Rs60 per litre Petroleum Development Levy (PDL) is also charged, accounting for 23.8 percent and 24.2 percent of diesel and petrol prices.
Petrol and HSD sales total around 700,000-800,000 tonnes monthly.
Copyright © 2021 Independent Pakistan | All rights reserved
