ISLAMABAD: In wake of Yemen conflict, the federal government has increased the price of petroleum products from today (April 1).
According to the new rates, petrol price has been increased by Rs4 per litre and of High Speed Diesel by Rs3 per litre. However, the prices of kerosene oil and High Octane Blending Component (HOBC) will remain unchanged.
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Meanwhile, Federal Board of Revenue (FBR) Chairman Tariq Bajwa has said that the GST rate for HSD was reduced to 32 percent from 37 percent while the rate for all other POL products would remain unchanged.
The Oil and Gas Regulatory Authority (Ogra) had proposed the increase on the basis of the actual purchases made during March 2015. Now, with the increase by Rs4 per litre, the new price of petrol will stand at Rs74.29 per litre. The price of High Speed Diesel has increased by Rs3 per litre to Rs83.61.
Ogra had recommended the increase in the price of High Speed Diesel by Rs6.25 per litre. The regulator had also recommended the raise in the price of HOBC by Rs7.66 per litre and kerosene oil by Rs1.56 per litre. However, the government has not increased the prices of HOBC, kerosene oil and Light Diesel Oil.
