In the recent announcements by the Government of Pakistan, that from June 1st, 2019, Petrol Prices increased by Rs. 4.68 to Rs. 112.6 per liter.
This was announced on the late night of May 31st that the Government approved the OGRA recommendation for an increase in the petrol prices.
On Friday, previously there were preliminary recommendations that the Petrol prices increased should be about by Rs. 9.26 per liter.
But on Firday, OGRA recommended that the increase should be about Rs. 8.53 per liter.
Diesel prices, has been increased by Rs. 4.50 and its new price will be Rs. 126.82 per liter
The price of light speed diesel has been increased by Rs. 1.86 per liter and its new price will be Rs .88.62 per liter.
Price of Kerosene Oil has been increased by Rs. 1.69 and its new price will be Rs. 98.46 per liter.
The new prices will be effective from June 1st. and will last up to June 30th of 2019.
The petrol prices increased was due to increase in the crude oil prices and High Speed diesel internationally and rupee devaluation incorporation.
PETROL PRICES ARE INCREASED BY 4.26 PER LITER
Previously on May 31st, the Pakistan Tehreek-e-Insaf dropped its first petrol bomb on the public, increasing the petrol prices by 10 percent, from Rs. 99 to 108.
The main reason laying behind the increase is the international reduction of oil production, and the organization of Petroleum Exporting Countries (OPEC), and the oil production and reservation countries are cutting the oil production which is mainly increasing the prices of oil.
The amount Rs112.68 per liter is a sum of taxes and commissions.
There is a base price of petrol per litre. Add to that the Petroleum Development Levy (PDL), a tax collected by the central government. Till May 1, it was fixed at Rs12 per liter. Now, it is Rs14 per liter.
After the PDL is the oil marketing companies profit of Rs2- 3 per liter, the dealer’s profit is an estimated Rs2-2.5, import tax is one per cent, then there are the transportation charge, which varies, and finally the General Sales Tax (GST). All these combined provide the total petrol price per liter.