Sunday, February 5, 2023

Fuel prices to increase due to levy, dealers’ margin hike , sources

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Fuel prices in the country are expected to go up before August due to IMF’s condition to increase levy, and increase the dealers’ margin, ARY News reported. 

Sources say that the levy on petrol may go up by Rs5 per litre while the Diesel levy is expected to be increased by Rs10 per litre. An increase in the dealers’ margin is also expected to be added to the OGRA summary.

Sources say that the government has decided to increase the dealers’ margin to Rs7 per litre which will cause an increase in the fuel prices too.

Also Read:Fuel prices to go up as govt gives in to petroleum dealers’ demands

The decision to increase the fuel prices would be made on July 31, 2022.

The Economic Coordination Committee (ECC) on Thursday approved an increase in sales and distribution margins of oil marketing companies (OMCs) and petroleum dealers.

A well-placed source in the finance ministry told ARY News that the ECC meeting presided over by Finance Minister Miftah Ismail here In Islamabad has accepted the demands of petroleum dealers OMCs by raising their sales margin by Rs7 per litre.

The OMCs and petroleum dealers have been seeking an increase in their sales and distribution margins by around 6 per cent to the premise of an increase in the costs of doing business and inflation.

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