ISLAMABAD: The government on Thursday announced it has raised the price of petrol by Rs4 from October 1 “due to an increase in petroleum prices in the international market”, according to a notification from the Finance Division.
“The OGRA has worked out the higher petroleum prices but prime minister has decided against the recommendation and passed on the minimum increase in prices to the consumers,” the notification said.
The government has absorbed the higher international pressure of prices through a reduction in petroleum levy and the sales tax, it added.
“It is pertinent to mention that petroleum prices in Pakistan are the cheapest in the region,” the notification claimed.
Petrol, with the last Rs4 increase, costs Rs127.30 per litre, whereas high-speed diesel, with an increase of Rs2, costs Rs122.04 per litre.