Islamabad  -   The government on Friday made a considerable increase in the prices of petroleum products, adding to the troubles of inflation-hit masses.

The price of the two most used fuels, petrol and diesel (HSD), have gone up by Rs4.26 per litre and Rs4.50 per litre, according to the new prices which took effect from the midnight.

The new per litre price is Rs112.68 for petrol and Rs126.82 for High Speed Diesel. Petrol is mostly used in cars, vans and motorcycles while HSD is used in buses and trucks as well as in agriculture sector for running tube-wells.

The per-litre prices of Super Kerosene Oil (SKO) and Light Diesel Oil (LDO) have been increased by Rs1.69 to Rs98.46 and by Rs1.68 to Rs88.62 respectively. Kerosene is mostly used for cooking purposes in those areas where LPG is not available, while LDO is used in different industries.

The government accepted the increase recommended by the Oil and Gas Regulatory Authority (Ogra) in the prices of these two commodities and shifted the entire burden to the consumers.

However, only half of the Ogra’s recommended increase has been passed on to the consumers in case of HSD and petrol, according a notification issued by the finance division.

On Thursday, Ogra had recommended Rs8.99 per litre (6.2 percent) increase in the price of HSD and Rs8.53 per litre (7.8 percent) increase in the price of petrol, also called motor spirit (MS).

Ogra had recommended considerable increase in the prices of all the POL products mainly due to increase in oil prices in international market, rupee depreciation against dollar and new Petroleum Levy rates imposed by the government.

Ogra had calculated ex-refinery sale prices of petroleum products at standard 17 percent General Sales Tax (GST). However the government has reduced GST on HSD from 17 percent to 13 percent, while it increased GST on petrol from 12 to 13 percent and stayed the sales tax on SKO and LDO at 17 percent.