Govt jacks up LPG prices

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has notified an increase in Liquefied Petroleum Gas (LPG) prices and hiked the sales tax on the domestic cylinder, ARY News reported on Wednesday.

The OGRA issued a notification for hiking the LPG prices. The authority hiked Rs27 on the domestic cylinder and the sales tax was increased from 17% to 18%.

After hiking the sales tax, the LPG price was increased to Rs3.21 per kilogram. The new price of the LPG per kilogram is fixed at Rs266.

The new price of the 11.8-kg domestic cylinder was fixed at Rs3,141.67.

Gas price hike

In another development today, the Oil and Gas Regulatory Authority (OGRA) hiked the gas prices by 113% and issued a notification following the advice of the Petroleum Division.

The OGRA notified a massive hike in gas prices by up to 113%. According to the notification, gas prices were hiked from 16% to 113% for different sectors including domestic consumers.

Domestic consumers were divided into 12 categories of protected and unprotected consumers.

Petrol price hike

Moreover, the federal government jacked up the price of petrol by Rs22.20 per litre in a bid to appease the International Monetary Fund (IMF) for reviving $7 billion Extended Fund Facility (EFF).

The rate of petrol was increased to Rs272.00 per litre from Rs249.80 per litre. The new prices will come into effect from 12am tonight, a press release from the Finance Division read.

The statement said that the price of petrol was increased to Rs272 per litre after an increase of Rs22, pointing out that the surge has taken place due to the rupee’s devaluation against the dollar.

Meanwhile, the price of high-speed diesel (HSD) has been increased by Rs17.20 per litre to Rs280.00. The price of kerosene has been increased by Rs12.30, after which the new price of kerosene oil has become Rs202.73 per litre. Similarly, the price of light diesel has been increased by Rs9.68 to Rs196.68 per litre.