Petrol Price Hiked By Rs4.13 Per Litre

The caretaker government keeps the diesel rate unchanged.

Petrol Price Hiked By Rs4.13 Per Litre

The departing caretaker administration on Thursday hiked petrol prices by more than Rs4.13 per liter, beginning March 1, 2024. However, the prices for high-speed diesel (HSD), light diesel oil (LDO), and kerosene oil remained unchanged.

As per a notification issued by the Ministry of Finance, fuel prices have been raised in accordance with the Oil and Gas Regulatory Authority's (Ogra) recommendations.

Following the increase, the price of petrol hit Rs279.75, while HSD is available for Rs287.33.

Currently, the government charges a tax of around Rs82 per liter on both petrol and high-speed diesel. Although the general sales tax (GST) on all petroleum products is nil, the government imposes a Rs60 per liter petroleum development fee on both items. 

The government also charges a customs levy of around Rs17–20 per liter on petrol and high-speed diesel. 

On the other side, it charges a Rs 50 per liter tax on high-octane blending components and 95 research octane number (RON) petrol. 

Petrol and high-speed diesel are the government's main income generators, with monthly sales ranging between 700,000 and 800,000 tons, compared to kerosene's monthly demand of only 10,000 tons.