The government on Friday increased the price of petrol by Rs.4.26 per liter for the month of June 2019 , following hike in global oil prices and depreciation of the rupee against the dollar. The Oil and Gas Regulatory Authority (Ogra) had recommended an increase of Rs.8.53 per liter or 7.8 percent. After the increase, petrol will now be available at RS.112.68 per liter price from the earlier RS.108.42 per liter.
It is being said that the people of Punjab would suffer the most from the increase as they had opted for petrol due to nigh prices of compressed natural gas. The government has also jacked up the price of high speed diesel (HSD) by RS.4.50 per liter against the proposed Rs 8.99 per liter. The HSD price has increased to RS.126.82 per liter as against RS.122.32 per liter. The HSD is widely used in transport and agriculture sectors.The increase would likely cause a further hike in inflation due to the surge in gas and electricity prices
The government increased the price of kerosene oil by Rs.1.69 per liter in line with the regulator’s proposal. The price of kerosene oil risen to Rs.98.46 per liter as against Rs.96.77 per liter. Kerosene is used in those areas where LPG is not available for cooking purposes.
On Ogra’s recommendation of increasing the price of light diesel oil (LDO) by RS.1.68 per liter or 1.7%, the government approved it. The LDO’s price has increased to Rs.88.62 from the earlier Rs.86.94 per liter. LDO is mostly used in Industry sector.
The regulator had forwarded the summary of increase in petroleum prices on Thursday and Government passed on the partial increase in prices of patrol and diesel before Eid-ul-Fitar 2019. At present General Sales Tax stand at 13% on HSD, 17% on kerosene oil and LDO