Govt hikes petrol, diesel prices by Rs4/litre

January 2, 2022 (MLN): In order to meet the petroleum levy target agreed with International Monetary Fund (IMF), the government has increased petrol prices by Rs4 per litre till January 15, said a notification issued by Finance Division lately.

Accordingly, the price of High-Speed Diesel (HSD) has also moved up by Rs4 per litre while the prices of Kerosene Oil (SKO) and Light Diesel Oil increased by Rs3.95 and Rs4.15 per litre.

The new prices of Petrol, HSD, SKO, and Light diesel now stand Rs144.82, Rs141.62, Rs113.53, and Rs111.06 per litre respectively.

Finance Ministry noted that Prime Minister In the fortnightly review of petroleum products' prices had rejected the proposal of Oil and Gas Regulatory Authority (OGRA) for a jump in prices and advised to increase only Rs4 per litre.

It is pertinent to mention that sales tax on petrol and diesel has been adjusted downwards as compared to December 16, 2021 to keep the prices lower, it added.

The new prices of petroleum products are effective from January 1, 2022.

Responding to the ongoing criticism in media regarding the increase in petroleum prices, Muzzammil Aslam, Spokesperson to the Finance Minister said the price of petrol in the country is one rupee less even today than in November’21. He is of the view that the government is trying to extend maximum relief to the general public.

Copyright Mettis Link News