The government on Tuesday increased the prices of petroleum products on the recommendation of the Oil and Gas Regulatory Authority (OGRA), which will be effective from Jan 1, 2020 (today).
According to a notification issued by the OGRA, the petrol price has been raised by Rs 2.61 per litre, which takes the existing price of Rs 113.99 to Rs 116.60 per litre. The price of high speed diesel (HSD) has been increased by Rs 2.25 per litre, making it jump to Rs 127.26 from existing Rs 125.01 per litre. The price of kerosene oil has been increased by Rs 3.10 per litre, to Rs 99.45 from existing Rs 96.26. The light diesel oil (LDO) also experienced a revision in its prices as existing Rs 82.43 price has surged to Rs 84.51 with an increase of Rs 2.08 per litre.
The government is currently charging 17% general sales tax (GST) on all petroleum products. Apart from that, petroleum levy is being collected on these products from the consumers. The government is charging a petroleum levy of Rs18 per litre on diesel, Rs15 per litre on petrol, Rs6 per litre on kerosene and Rs3 per litre on LDO.
