ISLAMABAD, June 30(ABC): The domestic prices of diesel and petrol are likely to hike by Rs16.89 and Rs4.55 per litre, respectively, in the next fortnight, reported Thursday. However, the petroleum levy (PL) and General Sales Tax (GST) will remain excluded from this price hike.
The price of diesel will witness a massive increase from July 1, 2022, if the government charges Rs10/litre on account of PL on diesel and petrol along with the GST.
The ex-depot price of petrol has been worked out at Rs238.44 for the next fortnight compared to Rs233.89/litre for the current fortnight, an increase of Rs4.55/litre.
If Rs10 PL and 17% GST are added, the petrol price will rise to around Rs290/litre from July 1, 2022.
The ex-depot price of diesel has been calculated at Rs280.20/litre for the next fortnight against Rs263.31/litre in the current fortnight, which translates into an increase of Rs16.89/litre. If Rs10 PL and 17% GST is included, the price of diesel may go up to Rs340/litre for the local consumers.
The government passed Rs50 PL for every litre of petroleum products in the Finance Bill 2022-23 on Wednesday, as demanded by the International Monetary Fund (IMF).