Due to a rise in crude oil prices on the international market, the government increased the price of petrol by Rs5.00 per litre on Thursday and the price of high-speed diesel (HSD) by Rs5.01 per litre for the next two weeks.
The price of fuel has risen to its highest level in Pakistani history after the government announced a Rs5 per litre increase, bringing the new price to Rs123.30 per litre.
Kerosene and light-diesel oil (LDO) rates have also been increased by Rs5.46 and Rs5.92 per litre, respectively.
In Pakistan, petrol is mostly utilized in automobiles and motorcycles. Diesel is widely utilized in agriculture and transportation. Kerosene is used for cooking in rural places when Liquified Petroleum Gas (LPG) is not available. In the industrial sector, LDO is used.
According to Petroleum Division sources, the previous high price of petrol was Rs 120.83 per litre, which was announced in July 2021.
All petroleum goods are additionally subject to a 17 percent general sales tax (GST). Aside from that, it collects petroleum levy (PL) on these items, which is paid directly by customers.