ISLAMABAD – The per litre costs of petroleum products have been subjected to Rs31.57 in taxes, charges, margins, and levies.
People are becoming concerned about the impact of taxes, charges, and levies on the cost of petroleum goods. On fuel, taxes, charges, margins, and levies are collected at Rs 31.50 per litre, whereas petrol is sold at Rs 116.26 per litre ex-refinery.
The price of petrol has been set at Rs147.83 per litre, the price of high-speed diesel ex-refinery has been set at Rs113.12 per litre, and the price of high-speed diesel for the general public has been set at Rs144.62 per litre. A margin of Rs4.90 is levied to dealers.
The Distributor margin on fuel is Rs3.68, the IFEM on petrol is Rs4.21, the levy on petrol is Rs17.62, and the sales tax is Rs1.16 per litre, according to sources.
The dealers’ margin on high-speed diesel is Rs4.13 per litre, the distributor margin is Rs3.68 per litre, the IFEM margin is Rs2.12 per litre, the levy on high-speed fuel is Rs 17.13, and a sales tax of Rs 4.44 per litre has been levied.
The government raised the price of fuel by Rs 3.01 per litre with immediate effect earlier on Saturday.
According to a statement released by the Finance Ministry, the government has absorbed the increase in oil prices on the international market and has decided to make a partial increase in petroleum product prices to give relief to end customers.
Petroleum goods were up for the fourth week in a row on the foreign market, with a rise of 6.2 percent just last week, putting them at their highest level since last year.
According to the statement, Pakistan’s current Sales Tax rate and Petroleum Levy on different petroleum goods were much below the planned levels. It said that, despite the Oil and Gas Regulatory Authority’s (OGRA) recommendations for a petrol price increase of Rs 5.52 per litre and a High Speed Diesel price increase of Rs 6.19 per litre, the prime minister had directed that international prices be absorbed through a further reduction in Sales Tax beginning last fortnight.
The new price of fuel would be Rs 147.83 a litre, according to a notification issued in this respect.
The cost of high-speed diesel (HSD) has been hiked by Rs3 per litre, to Rs144.62 per litre.
Kerosene oil’s price was also raised by Rs3 per litre, to Rs116.48 per litre.
Furthermore, light diesel oil would cost Rs3.33 extra per litre, bringing the total price to Rs114.54 per litre.