The government on Wednesday increased the petrol and diesel prices by Rs5 per litre each for the remaining 15 days of September.
The government claimed that the decision was taken due to surge in oil prices in global market and devaluation of Pakistani rupee against the US dollar.
Similarly, the prices of kerosene and Light Diesel Oil (LDO) were also raised by Rs5.46 per litre and Rs5.92 per litre respectively.
With the increase in POL prices, the new prices of petrol will be Rs123.30 per litre, diesel Rs120.04 per litre, kerosene Rs92.26 and LDO Rs90.69 per litre.
Meanwhile, the finance ministry in a statement said that owing to fluctuation in the petroleum prices in the international market and exchange rate, the prices of petroleum products were increased.
The government is charging 17 percent general sales tax (GST) on all petroleum products, apart from petroleum levy (PL).
In August 2018, when the PTI-led government came into power, the Brent oil was $75.5 a barrel, while the local market price of diesel was Rs112.94 per litre, of petrol Rs95.24 per litre, of kerosene Rs83.96 per litre and of Light Diesel Oil (LDO) Rs75.37per litre.
Now, when the Brent price is almost at the same level, the petroleum products are considerably higher with petrol at Rs123.3 per litre, diesel Rs120.04 per litre, kerosene Rs92.26 per litre and LDO at Rs90.69 per litre.
