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Tuesday Jun 12 2018
By
Web Desk

Petrol price upped Rs4.26 a litre as caretaker govt hikes fuel rates

By
Web Desk

ISLAMABAD: The caretaker government on Sunday revised the prices of petroleum products, announcing a Rs4.26 per-litre rise in petrol prices to go into effect today (Tuesday).

Petrol would consequently be sold at a revised rate of Rs91.96 a litre.

The prices of diesel, light diesel, and kerosene oil were hiked by Rs6.55, Rs6.14, and Rs8.22, translating into respective retail rates of Rs105.31, Rs74.99, and Rs84.34 per litre.

Meanwhile, the Federal Board of Revenue (FBR) issued a notification calling for an upward revision in the sales tax on petroleum products. 

The sales tax, therefore, on petrol, high-speed diesel, light diesel, and kerosene oil has been increased from seven percent to 12 percent, from 17 percent to 24 percent, from one percent to nine percent, and from seven percent to 12 percent, respectively.

The implementation of new sales tax will be applicable from June 12 to June 30.

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