Petroleum products raised by Rs28.44 per litre as per the calculation by The Oil and Gas Regulatory Authority (OGRA) which would be effective from August 1.
The estimated ex-depot price of gasoline might raise by Rs6.53, HSD (high speed diesel) by Rs28.44, SKO (kerosene oil) by Rs11.02 and where as LDO (light diesel oil) by Rs5.64 epr litre as per current rate of petroleum levy, according to the regulatory agency sources.
Recently, the Finance Division had summary called for a raise in gasoline price of up by 11% approximately effective from August 1. However, the PM would made the final choice in this matter.
Further, oil sales ratio was dropped by 11% as price raised to the highest levels, whereas petroleum prices might raise by Rs28.44.
If the government confirm the price of gasoline and HSD would raise by Rs7 per litre. The ECC ( Economic Coordination Committee) earlier approved the petroleum dealers margin.
However, the assurance has been provided to the dealers about the margin increment would be applicable from August 1.
As per the allotted prices, Rs230.24 to Rs236.77 per litre would raise against gasoline, Rs236.00 to Rs264.44 per litre, would raise against HSD, Rs196.45 to Rs207.47 per litre against SKO whereas the LDO price would o crease from Rs191.68 to Rs197.32 per litre.
No sales tax would be applicable whereas the present PL of Rs10 per litre against gasoline the PL on HSD, SKO, and LDO are each Rs5
National Assembly had allowed an increase against PL to the maximum limit from from Rs30 per litre to Rs50 per litre in order to meet the budgetary goal of Rs750 billion as per the Finance Bill 2022–23
Moreover, shortfall of Rs45 billion per month is expected if the 17.5 per cent general sales tax (GST) is not applicable on petroleum goods.
