WEB DESK: The government is considering increasing the petrol price by 7 rupees per liter.
According to media reports, after four consecutive reductions, the government is now considering a price hike. If the petrol price increases by 7 rupees per liter, it will rise to 265.16 rupees.
The government is also contemplating raising the petroleum levy on petrol and diesel by up to 80 rupees. Similarly, the price of high-speed diesel might increase by 10 rupees and 50 paisas per liter, bringing the new price to 277.89 rupees. The possible reason for this increase is the rise in international oil prices.
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Finance Minister Mohammad Aurangzeb proposed these new adjustments in the 2024-25 budget. Previously, there were reports that the government might impose an 18% GST on petroleum products, which is currently at zero percent.
In addition, a report published on June 9 stated that the federal government was considering increasing the petroleum levy on petrol and diesel by 60 to 80 rupees per liter.
According to the newspaper report, high-ranking officials are also considering imposing another levy on petroleum products and increasing the gas tariffs of companies to address the circular debt of up to 2.9 trillion rupees in the gas sector.
It is noteworthy that before Eid, the petrol price was significantly reduced by 10 rupees and 20 paisas per liter, bringing the price down to 258.16 rupees. However, this increase could reverse the previous reduction with a slight difference.
