The federal government on Tuesday increased the price of petrol by Rs2.13 per litre for the next 15 days of June 2021, according to a notification issued by the Finance Ministry.
The government approved a Rs2.13 per litre increase on petrol and Rs1.79 per litre on diesel. The price of kerosene oil has been increased up to Rs1.89 per litre while the rate of light diesel was jacked up to Rs2.03 per litre.
After an increase, the current price of petrol stands at Rs110.69 per litre, whereas the per-litre prices of diesel, kerosene oil, and light diesel are Rs112.55, Rs81.89, and Rs79.68, respectively. The new prices will come into effect from 12:00am on Wednesday.
Earlier, the Oil and Gas Regulatory Authority (Ogra) proposed an upward revision of Rs4.20 in petrol price for the next 15 days from June 16 (Wednesday). According to details, the Ogra moved a summary to the Petroleum Division for approval, seeking an increase in petrol prices by Rs4.20 per litre and Rs3.50 per litre hike in diesel prices.
It emerged that petroleum levy on petrol and diesel are expected to remain unchanged following the working on petroleum products for a new fortnight. Currently, a levy of Rs4.80 per litre is being charged on petrol and Rs5.14 per litre on diesel.
It is pertinent to mention here that global crude prices at present stand at 32-month high and have regained all losses made during the coronavirus pandemic. Global crude prices marked a fourth week of gains on Monday amid better forecasts for fuel demand along with tightness in supply as increased levels of anti-Covid vaccinations resulted in the easing of travel restrictions.