Wednesday, November 15, 2023
The caretaker government — in relief to the inflation-weary Pakistanis — has slashed the petrol price by Rs2.04 per litre for the next fortnight.
|Products||Existing price||New price||Decrease|
|High Speed Diesel (HSD) ||303.18||296.71||Rs6.47|
|Light diesel oil||Rs192.86||Rs180.45||Rs9.01|
The new prices will come into effect from November 16, at midnight and remain in place till November 30.
In a statement, the Finance Division said the rates of petroleum products were slashed by up to Rs9.01 on the recommendation of the Oil and Gas Regulatory Authority.
The per litre price of high-speed diesel (HSD) was slashed by Rs6.47, while the prices of kerosene oil and light diesel oil were reduced by Rs6.05 and 9.01, respectively.
The caretaker government reduced the fuel prices after a month as for the two fortnightly reviews the prices were kept unchanged.
The interim government is charging zero general sales tax (GST) on all petroleum products while the rate of petroleum levy (PL) on petrol and diesel is Rs60 per litre.
On October 16, the government had dropped the petrol price by Rs40 per litre and HSD by Rs15 per litre.
Diesel is widely used in the transport and agriculture sectors. The reduction in its price could bring inflationary impact down and relief for farmers as the crop-harvesting season has kicked off.