Petrol, diesel prices hiked in pakistan
In response to rising crude oil prices worldwide, pakistan reportedly raised the price of gasoline and diesel on Monday. For the next two weeks ending July 15, the price of gasoline has been raised by Rs 8.36 per litre and that of diesel by Rs 10.39 per litre. The federal finance ministry of pakistan said in a statement that the price of petroleum goods has increased due to changes in the global market.
What are current petrol, diesel prices in Pakistan?
High-speed diesel (HSD) now costs Rs 272.98 per litre ex-depot in pakistan, up Rs 10.39 per litre from Rs 262.59 per litre. Heavy vehicles, railroads, and agricultural engines such as trucks, buses, tractors, tubewells, and threshers all employ HSD, which powers a significant amount of transportation.
Vegetables and other necessary food items are predicted to become more expensive due to the increase in HSD pricing.
In a same vein, the ex-depot price of gasoline has gone up by Rs 8.36, or 3.3 percent, from Rs 258.43 to Rs 266.79 per litre. The lifestyles of the middle and lower middle classes are directly impacted by gasoline, which is primarily utilized in private transportation, small cars, rickshaws, and two-wheelers.
How much tax is pakistan govt levying on fuel?
The government has also raised the price of gasoline and high-speed diesel to Rs 100 a litre, which is an increase of Rs 2.5, according to reports in Pakistani media. Today, July 1, marked the implementation of the updated tax rates. In addition to the distribution and sales margin of Rs 17/litre that goes to the oil corporations and their dealers, the Pakistani government also collects a custom duty of Rs 19/litre on gasoline and HSD.
Petroleum items, however, are still exempt from the General Sales Tax (GST).
Notably, during the 12-day Israel-Iran conflict, the price of crude oil reached a record high of $81 per barrel worldwide.