Petrol prices inch up in moderation with effect from 12th June

Petrol prices inch up in moderation with effect from 12th June

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ISLAMABAD: On Sunday, the caretaker government 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.

Moreover, 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) further issued a notification calling for an upsurge 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%, from 17% to 24%, from 1% to 9%, and from seven percent to 12%, respectively.

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

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