ISLAMABAD: The government has decided to increase petroleum, oil and lubricants (POL) prices in Pakistan by Rs4.5 per litre from March 1 after growing oil prices in the international market.
According to media reports, petrol, high octane, kerosene oil and diesel prices will rise by Rs3.97, Rs4.50, Rs2.67, and Rs2.61 per litre respectively.
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Another reason behind the likely rise is petroleum prices is increase in General Sales Tax (GST). Apart from the price hike in all petroleum products, high speed diesel’s price is expected to go down by Rs3 per litre. Its cost will decrease from Rs80.61 to Rs77.61. During the past 2 months, GST on petroleum products has been increased from 17% to 27%.
