Nobody Saw Petrol Prices Crossing Rs. 130
The federal government has increased the petrol prices once again. As per a notification, the price of petrol has been hiked by Rs10.49 as its new rate is Rs137.79 as compared to old price of Rs127.30. Meanwhile, the price of High Speed Diesel (HSD) is hiked by Rs12.44 and now it will cost Rs134.48 against previous rate of Rs122.04.
The Kerosene Oil (SKO) has seen a jump of Rs10.95 as its new price is Rs110.26 against the old price of Rs99.31. Lastly, the rate of Light Diesel Oil has been increased by Rs8.84 and now it will cost Rs108.35 as compared to its old price of Rs99.51.
Government’s Stance
As per the notification by Finance Division, the oil price have risen around $85 a barrel internationally, since October 2018. “Importantly, entire energy chain prices have witnesses a strong surge in the past couple of months due to higher demand for energy inputs,” the notification read.
It further added that in current scenario, the government has absorbed the pressure and provided maximum relief to the consumers by keeping Petroleum Levy (PL) and Sales Tax to minimum. Therefore, prices worked out by OGRA have been approved.
The new prices of petroleum products will be implemented from October 16th, 2021.