Latest news with #Rs11.37
Business Recorder
16-07-2025
- Business
- Business Recorder
PSO exchange rate adjustment led to HSD price hike
ISLAMABAD: High-speed diesel (HSD) prices have risen by Rs11.37 per litre for July 16-31, 2025 fortnight. This increase is largely attributed to an exchange rate adjustment granted to Pakistan State Oil (PSO) while petroleum levy (PL) and climate support levy (CSL) have been kept unchanged. According to the documents, PSO exchange rate adjustment accounts for approximately Rs6.90 per litre of this hike, which constitutes about 60 percent of the total increase. Fuel prices likely to increase Other factors which attributed to price hike are the Inland Freight Equalization Margin (IFEM) on HSD which has also jumped to Rs6.04 per litre, a significant increase from Rs2.09 per litre in the previous fortnight. The ex-refinery price of HSD has climbed by Rs7.5 per litre, moving from Rs177.24 to Rs184.79 per litre. For petrol, several adjustments have led to price increases. Pakistan State Oil (PSO) exchange rate is set at Rs1.22 per litre, while the average Platts with incidentals and duty has increased by Rs2.21 to Rs167.51. The Inland Freight Equalization Margin on petrol is now Rs8.89, a rise of Rs1.93 per litre. The ex-refinery rate for petrol has increased by Rs3.43 per litre, moving from Rs165.30 to Rs168.73 per litre. Carbon levy on both petroleum products (petrol/HSD) is unchanged at Rs2.50 per litre. Petroleum levy on petrol is kept unchanged at Rs75.52 per litre and HSD Rs74.51 per litre. Premium on petrol has been fixed at 9.608 per bbl and $3.250 per bbl on HSD. According to a notification issued by the Finance Division late Tuesday night, petrol price has been raised by Rs5.36 per litre, while diesel has been increased by Rs11.37 per litre. Copyright Business Recorder, 2025
Express Tribune
16-07-2025
- Business
- Express Tribune
Fuel prices hit new peaks, sending consumers reeling
Listen to article The government on Tuesday hiked the prices of petroleum products by up to Rs11 per litre for the second half of July 2025 in a regressive step that would exacerbate the economic hardships faced by the common man. This is the second consecutive increase in the prices of petrol and diesel since the start of the new fiscal year on July 1. On June 30, the government had increased the fuel prices by up to Rs10 for the first fortnight of the current month that ended on Tuesday. Separately, the Oil and Gas Regulatory Authority (Ogra) announced a reduction in the prices of re-gasified liquefied natural gas (RLNG) for the current month, while the rate of kerosene oil and the light diesel oil also came down slightly. According to a notification issued by the Finance Division, petrol price went up by Rs5.36 — from Rs266.79 to Rs272.15 per litre, while the high-speed diesel (HSD) rose by Rs11.37 per litre — from Rs272.98 to Rs284.35 for the July 16-31 period. This latest adjustment in the petrol and HSD prices reflects persistent volatility in the global oil markets. It also shows the government's fiscal constraints in meeting its ambitious revenue targets as it is already charging highest rate of petroleum levy (PL) on the petroleum products to collect revenue. The government said that it had taken the latest decision on the recommendations of Ogra and the relevant ministries. "The Government has decided to revise the prices of petroleum products for the fortnight starting July 16, based on the recommendations of OGRA & the relevant ministries," it said. Ogra had recommended the increase in the prices of petroleum products based on Rs78.02 per litre PL on petrol and Rs77.01 on HSD. It had also assumed Inland Freight Equalisation Margin (IFEM) at Rs8.89 per litre on petrol and Rs6.04 on HSD. The exchange rate adjustment was calculated at Rs3 per litre on petrol and Rs2 on HSD. Diesel is widely used in agriculture and freight transport, and any price increase directly impacts the cost of goods and services. Petrol, meanwhile, fuels motorcycles and cars, and serves as an alternative to compressed natural gas (CNG), especially in Punjab, where CNG stations rely on imported LNG. The fresh price hike is expected to further widen the gap between stagnant household incomes and the rising cost of living. Analysts have warned that without the fiscal space or targeted subsidies, the brunt of global oil volatility will continue to be passed on to the end users. The government had the space to rescue the consumers from the current hike in oil prices by slashing the rate of PL, but it did not compromise on revenue collection and, hence, passed on the full impact of the increase in oil prices in the global market to the consumers. On July 1, the federal government has increased petrol and HSD prices significantly, attributing the hike to global market volatility amid the Iran-Israel war. Petrol was increased by Rs8.36 to Rs266.79 per litre, and HSD by Rs10.39 to Rs272.98, based on Ogra's recommendation. Pakistan imports petroleum products to meet around 85% of its local consumption, whereas 15% needs are met through locally-produced crude oil. At present, consumers are already paying over Rs77 per litre in PL. The current year's budget also includes a new carbon levy, further pushing the fuel prices. Meanwhile, in the deregulated market, kerosene oil becomes cheaper by Rs3.10 and the price of the LDO came down by Rs1.85, while Ogra, through a notification, announced a reduction in the RLNG prices for the current month on the back of slight decrease in the delivered ex-ship (DES) price. According to the Ogra notification, the RLNG prices for the Sui Northern Gas Pipelines Limited (SNGPL) and the Sui Southern Gas Company (SSGC) had undergone changes in both transmission and distribution segments. For the SNGPL, the new transmission price has been set at $10.8338 per million British thermal units (mmBtu), down from $11.0154, reflecting decrease of $0.1816, or 1.65%. The distribution price has been revised to $11.5787 per mmBtu from $11.7816, marking decrease of $0.2029, or 1.72%. Similarly, the SSGC's transmission price has been decreased from $9.7284 per mmBtu in June to $9.4713 in July, a decline of 2.64%. However, the distribution price has also gone down from $10.8650 per mmBtu to $10.5737, a reduction of $0.2913, or 2.68%.
Express Tribune
15-07-2025
- Business
- Express Tribune
Govt raises fuel prices again for next fortnight
Government has once again announced an increase in petrol and diesel prices, following a continued upward trend in global crude oil prices and growing economic challenges, according to a notification issued by the Finance Division late Tuesday night. The Finance Division confirmed that petrol prices have been raised by Rs5.36 per litre, while diesel prices have increased by Rs11.37 per litre. This revision will take effect immediately from July 16, impacting millions of motorists and transport operators across the country. The price of petrol has increased from Rs266.79 to Rs272.15 per litre, while high-speed diesel (HSD) now costs Rs284.35 per litre, up from the previous Rs272.98. The government stated that the rise in fuel prices is a result of fluctuating international market trends, which have driven up global oil prices. Fuel prices in Pakistan are reviewed fortnightly, with adjustments based on changes in international oil prices and the local currency exchange rate. On July 1, the federal government had increased petrol and diesel prices significantly for the first fortnight of the month, attributing the hike to global market volatility amid the 12-day Iran-Israel conflict. Read More: Govt sticks to the script, hikes fuel prices again Petrol rose by Rs8.36 to Rs266.79 per litre, and high-speed diesel by Rs10.39 to Rs272.98, based on the Oil and Gas Regulatory Authority's (OGRA) recommendation. Pakistan, which imports around 85% of its petroleum needs, was directly impacted by the Middle East crisis.
Business Recorder
15-07-2025
- Business
- Business Recorder
Govt hikes petrol price by Rs5.36, diesel by Rs11.37 per litre
The federal government on Tuesday hiked the price of petrol by Rs5.36 per litre for the next 15 days, raising it to Rs272.15. The rate for high-speed diesel was also increased by Rs11.37 per litre, taking it to Rs284.35 per litre. In a notification, the Finance Division stated that the new prices will take effect from July 16, 2025. In the last fortnightly review, the government had increased the petrol price by Rs8.36 per litre to Rs266.79, and diesel by Rs10.39 per litre, to Rs272.98.
Hans India
01-07-2025
- Business
- Hans India
FY25 clocks record `22.08-trn GST mop-up
New Delhi: Gross GST collections doubled in five years to reach an all-time high of Rs22.08 lakh crore in the 2024-25 fiscal year, from Rs11.37 lakh crore in FY21, government data showed on gross goods and services tax (GST) collections touched its highest-ever level of Rs22.08 lakh crore in 2024-25, registering a 9.4 per cent growth over the previous fiscal year. The average monthly collection stood at Rs1.84 lakh crore in FY25, up from Rs 1.68 lakh crore in FY24 and Rs 1.51 lakh crore in FY22. In eight years, the number of registered taxpayers under GST has risen from 65 lakh in 2017 to over 1.51 'One-Nation, One-Tax' made tax compliance easier, reduced costs for businesses, and allowed goods to move freely across states. It brought together a wide range of indirect taxes under one umbrella by replacing levies like excise duty, service tax, VAT and others. This helped remove the cascading effect of taxes and brought consistency in the tax system across the country. 'Since its rollout, the goods and services tax has shown strong growth in revenue collection and tax base expansion. It has steadily strengthened India's fiscal position and made indirect taxation more efficient and transparent,' a government statement on eight years of GST said. In 2024-25, GST recorded its highest-ever gross collections of Rs 22.08 lakh crore, reflecting a year-on-year growth of 9.4 per cent. In 2023-24 and 2022-23, GST collections were Rs 20.18 lakh crore and Rs 18.08 lakh crore in 2022-23. In 2021-22, total gross GST collections were Rs 11.37 lakh crore, and the average monthly collection was Rs95,000 crore. GST, which was launched on July 1, 2017, completes eight years on Monday. GST subsumed about 17 local taxes and 13 Cesses into a five-tier structure, simplifying the tax regime. Monthly GST collection had touched a record high of Rs2.37 lakh crore in April 2025. In May 2025, it was at Rs2.01 lakh crore. The numbers for June will be released on Tuesday. The Deloitte report titled GST@8 described the past year as a blockbuster for GST. It credited the government's timely reforms, clear guidance to taxpayers, and steady upgrades on the GST portal as key reasons behind this success.
