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Govt increases petrol price by another Rs14.85 per litre

Updated 01 Jul, 2022
<p>Motorists wait to fill their vehicles’ tanks at a petrol station in Islamabad following an increase of petroleum prices by the government on Thursday. AFP file photo</p>

Motorists wait to fill their vehicles’ tanks at a petrol station in Islamabad following an increase of petroleum prices by the government on Thursday. AFP file photo

In yet another jolt to the inflation-hit masses, the government has increased petrol and diesel prices by Rs14.85 per liter from July 1.

The Finance Division announced the increase in the prices of petroleum products late Thursday night. “In view of the fluctuation petroleum prices in the international market and exchange rate variation the government has decided to apply petroleum levy partially,” said the notification issued in this regard.

After the increase, the new price of petrol will be Rs248.74 per litre while the price of high-speed diesel has been increased by Rs13.23 per litre and the new price will be Rs276.54 per litre.

The notification stated that the price of kerosene has been increased by Rs18.83 per litre, while the price of light-speed diesel has been jacked up by Rs18.68 per litre.

The coalition govt, since coming to power in April, has raised the price of petrol by Rs99.

Earlier on Wednesday, the National Assembly had passed Finance Bill 2022 and approved to impose of an Rs50 levy on petroleum products.

Finance Minister Miftah Ismail while speaking on the floor of the House said that an Rs50 per litre petroleum levy would not be imposed in one go.