Govt jacks up petrol price by Rs14.85 per litre

In yet another jolt to the inflation-hit masses, the government has decided to increase petrol and diesel prices by Rs14.85 per liter from July 1.

The price of High-Speed Diesel has been jacked up by Rs13.23 after which it will be sold at Rs276.54.

Meanwhile, the prices of kerosene and light-diesel oil (LDO) were increased by Rs18.83 and Rs18.68, respectively. The new price for kerosene will be Rs230.26 and that of LDO will be Rs226.15.

On Wednesday, National Assembly (NA) had approved the Rs50 per litre petroleum levy as the house passed the Finance Bill 2022-23. The Lower House of the Parliament approved amending the Petroleum Products (Petroleum Levy) Ordinance, 1961, caving in to the IMF’s demand of imposing a petroleum tax levy of Rs50.

However, the finance minister, while speaking on the floor, said that the petroleum levy was at Rs0 currently and reiterated that the government will not impose Rs50 in one go.

“The government has got the permission from you (the house) to impose up to Rs50 per litter levy on petroleum products but there is no intention to take the levy up to this figure”, he said.

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