Prices of petroleum products hit historic high,
OGRA increases prices of LPG
Petrol price up by Rs22.2 per litre, HSD by Rs17.2 per litre and kerosene oil by Rs12.90 per litre,
LAHORE – A petition was filed in the Lahore High Court (LHC) on Thursday seeking reversal of recent increase in prices of petroleum product.
The petition has been filed by a citizen named Munir Ahmed through his lawyer Azhar Siddique. He has made the petroleum minister, the Oil and Gas Regulatory Authority (Ogra) and others in the case.
The petitioner argued that the increase in petroleum prices was illegal and pleaded the high court to declared the notification issued by the governments to jack up the prices null and void.
The federal government has announced an increase in the prices of petroleum products,
The price of petrol has been increased by Rs22.2 per litre, while the price of high-speed diesel (HSD) has gone up by Rs17.2 per litre.
The kerosene cost has surged by Rs12.90 per litre and the price of light-speed diesel (LSD) has been jacked up by Rs 9.68 per litre.
The federal government announced the increase in the prices of petroleum products hours after unveiling a tax-loaded ‘mini-budget’.
According to the Finance Division, the revised price of petrol is Rs272 per litre while high-speed diesel will be available at Rs280 per litre.
Kerosene oil cost is Rs202.73 per litre and light-speed diesel will be available at Rs196.68 per litre.
After the increase in general sales tax, Oil and Gas Regulatory Authority (OGRA) has increased the liquefied petroleum gas (LPG) rates,
The government has suggested in the Finance (Supplementary) Bill 2023 to increase the general sales tax (GST) from 17 percent to 18 percent.
Interestingly, the bill is laying with the national assembly and senate for taking the parliamentarians’ approval but the OGRA has issued a notification in advance for increasing the rates of LPG.
According to the notification, the domestic LPG cylinder has been increased from Rs 382.35 to Rs 404.84. It becomes Rs 26.62 more expensive.
The cost of LPG has been increased by Rs 2. 26 per kg and the new price of one kg LPG is fixed Rs 266.21. The domestic LPG cylinder price has been fixed at Rs 3141.29.
