Federal govt jacks up petrol price by Rs 9.42 per litre, notification issued

Federal govt jacks up petrol price by Rs 9.42 per litre
Islamabad: In yet another move to shift burden on already inflation-stricken masses, Federal Board of Revenue (FBR) on Sunday released notification stating another hike of Rs9.42 per litre in petrol price.

The recent increase in price of the petrol was announced after a hike in Goods and Services Tax (GST) from 2pc to whooping 12pc.

As per details garnered, the price of kersone oil is Rs96.77 per litre, diesel at Rs 122.3 per litre whereas price of light diesel stands at Rs86.94 per litre.

Federal government cites rising prices of crude oil in the international market and devaluation of rupee as main reasons behind second consecutive hike in prices of the petroleum produces in as many months.

It is worth here to mention that Oil & Gas Regulatory Body (OGRA) had recommended to raise petrol price by Rs14.37 per litre which was turned down by Prime Minister (PM) Imran Khan. Later, ECC decided to raise the price by Rs9 per litre.