Islamabad: The federal government has increased petrol price by Rs9.99 per litre for the next fortnight.
The government also increased the price of high-speed diesel (HSD) from Rs277.45 per litre to Rs283.63 with an increase of Rs6.18.
According to the Finance Division’s notification, the new petrol price was Rs275.6/ltr and Rs283.63/ltr for HSD due to price variations in the international market.
The government has jacked up the maximum limit of petroleum development levy (PDL) to Rs70 per litre in the Finance Bill to collect Rs1.28 trillion in the current fiscal year against Rs960 billion collection during the previous year, almost Rs91bn higher than the Rs869bn budget target.
During the current fortnight, import premiums on both petrol and HSD have remained unchanged at $9.60 and $6.50 per barrel, respectively. On the other hand, the rupee depreciated by about 17 paise against the dollar during the fortnight.
The government currently charges about Rs77 per litre tax on both petrol and HSD.
