Govt hikes POL prices, petrol goes up by Rs4.26 per litre

ISLAMABAD: The federal government on Friday increased prices of petroleum, oil and lubricants, with petrol going up by Rs4.26 per litre.

The price of high-speed diesel was increased by Rs4.50 per litre, read a statement issued from the Ministry of Finance.

Similarly, the revised rates of kerosene oil and light diesel oil recorded a hike of RsRs1.69 and Rs1.68 per litre, respectively.

The new prices will take effect from 12am on June 1.

The Federal Board of Revenue said the general sales tax (GST) on petrol and high-speed diesel has been increased to 13 per cent.

It added that GST on kerosene oil and light diesel oil has been increased to 17 per cent.

It is pertinent to mention here that the government had earlier hiked the petroleum prices by as much as Rs9.42 before the start of Ramzan.

The revised rates of petroleum products are as follows:

Petrol                            Rs112.68 per litre

High-speed diesel        Rs126.82 per litre

Kerosene oil                  Rs98.46 per litre

Light diesel oil              Rs88.62 per litre