In a major move, the government on Friday increased the price of petrol by over Rs 25 per litre and diesel by Rs 21 per litre. The new prices will come into effect immediately, confirmed an official notification.
According to an official notification issued by the Finance Division, the price of petrol has been increased from existing Rs 74.52 to Rs 100.10 per litre. The price of diesel has gone up to Rs 101.46 from Rs 80.15 after an increase of Rs 21.31 per litre.
Well Played “Petrol” nice 👍 Century “a quick one” #PetrolPrice
— K A S H I F (@Kashif03M) June 27, 2020
Government’s effective tax rate (Sales tax+Petroleum Levy combined) on the new petrol price is 80%
A.Price before Petroleum Levy and Sales Tax=Rs55.56
B.Petroleum Levy (Rs30)+Sales Tax (Rs14.55) = Rs.44.55
Effective tax rate (B/A)=80%
Sale Price (A+B) = Rs100.11#PetrolPrice pic.twitter.com/aw8VrWoFd6— PMLN Economy (@PMLNEconomy) June 27, 2020
A public backlash against petrol price cannot unravel the mistake that was done in the Election 2018.#PetrolPrice pic.twitter.com/YZ3YYsPQg9
— GhulAm AbbAs (@abbasbhurgri) June 27, 2020
As a supporter of PTI m not in favour to support this #PetrolPrice by 25 rs increasement . @ImranKhanPTI how is this possible to increase #PetrolPrice suddenly by huge margin as the #budgetpakistan is still at its old position . Cheak out n have a look on it #PetrolPriceHike . pic.twitter.com/cnEZCOabLT
— ꧁ دانیال꧂ 🇵🇰 (@azidaniyal2) June 27, 2020
This is the beggar who used to say, “When the price of petrol goes up, the money goes into the pockets of the rulers.” #PetrolPrice #PetrolChorImranKhan pic.twitter.com/fkWvsriUuc
— Anaam rizvi (@AnaamRizvi786) June 27, 2020
#PetrolPrice
Dear @ImranKhanPTI
We worked for you, we voted you into power, we roughed it out out for you and you’ve simply bowed before #OilMafia? How disgusting?
You couldn’t resist them even for 4 more days? We deserve and demand answers. 1/- pic.twitter.com/uzgIPhQvFl pic.twitter.com/apV8LOYnZt— مس ملنگنی (@BCrCBJd06hsyjVK) June 27, 2020
Meanwhile, the price of kerosene oil has been increased by Rs 23.50 per litre from the current Rs 35.56 to Rs 59.06 per litre. Kerosene oil use is still prevalent in remote areas of Pakistan where LPG is not available for cooking purpose.
It should be noted that the Imran Khan-led government had slashed fuel prices four times since March 1, resulting in a massive drop if Rs 42.10 per litre from Rs 116.56 to Rs 74.50 per litre.
Pakistan revises retail fuel prices every month, based largely on the price of crude oil imported from oil producing nations. Indian fuel retailing companies revise petrol and diesel prices daily, based on crude oil prices, along with other factors.
