Govt Decision On Petrol Prices

ISLAMABAD: The government inflated on Monday the price of petrol, by Rs 4.80 a litre to Rs 65.26, and other petroleum products with effect from today (Tuesday) in line with an increase in global oil prices and foreign exchange element.

Prime Minister Yousuf Raza Gilani approved the summary on the increase that had been moved by the Petroleum Ministry and backed by the Finance Ministry.

The government increased the price of petrol (Motor Spirit) by Rs 4.80 a litre, HOBC by Rs 3.38 a litre, kerosene oil by Rs 2.69 a litre, light diesel oil by Rs 3.69 a litre, JP-1 by Rs 3.74 a litre and JP-4 by Rs 4.10 a litre.

The new prices are Rs 65.26 a litre for petrol, Rs 80.39 a litre for HOBC, Rs 60.6 a litre for kerosene oil, Rs 56.96 a litre for light diesel oil, Rs 48.02 a litre for JP-1 and Rs 46.06 a litre for JP-4.

The Petroleum Ministry had recommended the increase based on the average crude oil price of $71.23 a barrel in the international market during August. The Finance Ministry backed the proposal in a bid to enhance revenue collection during the current financial year.

Following the increase in prices, the government has estimated it would collect Rs 8 billion through the petroleum levy in September, it was reported.

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Govt Decision On Petrol Prices was first posted on September 1, 2009 at 4:19 pm.
©2009 “Pakistan News“.