ISLAMABAD: The government has raised the price of high-speed diesel (HSD) by Rs5 per litre, marking the first increase in three months, while the petrol price remains unchanged for the next fortnight.
According to an official announcement, the ex-depot price of diesel has been revised to Rs251.29 per litre, up from Rs246.29, while petrol stays at Rs247.03 per litre. In the retail market, diesel is being sold for Rs252 and petrol for around Rs248.50 per litre.
The Oil and Gas Regulatory Authority (OGRA) calculated the revised prices based on global market fluctuations, with diesel seeing an average increase of $1.5 per barrel. Despite this, petrol prices have remained stable. The last five price revisions saw cumulative decreases of Rs28.57 for petrol and Rs36.34 for diesel per litre.
Currently, the government imposes taxes of approximately Rs76 per litre on both petrol and diesel, including a Petroleum Development Levy of Rs60 per litre. Despite these levies, general sales tax remains zero across all petroleum products.
Petrol and diesel are key revenue generators, with monthly sales ranging between 700,000 and 800,000 tonnes.
Story by Khaleeq Kiani
