According to Dawn’s report on Monday, the Pakistani government has announced an increase in petrol prices by PKR 4.53 per litre and high-speed diesel (HSD) by PKR 8.14 per litre for the next fortnight ending April 30.
Dawn also reported that petrol prices have risen to PKR 293.94 per litre, up from PKR 289.41, while HSD prices have increased to PKR 290.38 per litre for the next 15 days, compared to PKR 282.24 over the past fortnight. The decision was made based on price variations in the international market, as determined by the Oil and Gas Regulatory Authority.
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Petrol, mainly used in private transport, small vehicles, rickshaws, and two-wheelers, affects the budgets of the middle and lower-middle classes. HSD, primarily used in heavy transport vehicles, trains, and agricultural engines, also impacts the prices of essential goods. The government did not announce the prices of kerosene and light diesel oil (LDO).
Earlier reports suggested increases in petrol and HSD prices in the international market, leading to the current adjustment. Despite a drop in import premium on petrol, the net impact is estimated to result in a price increase. Additionally, while the general sales tax (GST) is zero on petroleum products, the government imposes petroleum development levy (PDL) and customs duty on petrol and HSD, aiming to meet budget targets set for revenue collection from petroleum products.
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