Here is the good news for people, the Petrol Prices In Pakistan is anticipated to decrease by Rs9.63 per liter over the course of the next two weeks. Details indicate that between September 1 and 15, the Platts’s price for gasoline decreased by Rs. 9.55/liter, which could mean that the price of the price will decrease by Rs. 9.62/liter.
Oil and Gas Regulatory Authority (OGRA) Statement:
According to reports, the Oil and Gas Regulatory Authority (OGRA) has suggested lowering petrol prices in Pakistan for the final fifteen days of the current month, September. However, a final decision about new petroleum pricing would only be made after receiving Prime Minister Shehbaz Sharif’s assent.
Media reports state that rather than the current Rs. 235.98 a liter, the new price of gasoline will be Rs. 226.36, while diesel prices are anticipated to increase. On the other side, the price of diesel is likely to increase by Rs. 3.04/liter, from Rs. 247.26/liter to Rs. 250.30/liter. The diesel Platts rate reduces by Rs. 6.46/liter, from Rs. 140.38/liter to Rs. 133.93 liters. However, rising exchange rates and freight costs may fluctuate the diesel price The increase is also due to a possible increase in customs duty on diesel fuel.
Petrol and Sales Taxes:
The government has agreed to levy an Rs. 50/liter Petrol Levy (PL) on gasoline in addition to a 17% Sales Tax as per the terms of the most recent agreement with the International Monetary Fund (IMF). While there is now no sales tax, the current Petrol Levy is Rs. 37 per liter. Although it was anticipated that the government will enact these levies soon, a decline in the price of fuel globally is anticipated to provide some relief to the general public.
Current Petroleum Product Price In Pakistan:
The government raised the cost of gasoline in Pakistan by Rs. 2.07 on September 1st, bringing the price from Rs. 233.91 to Rs. 235.98. High-speed diesel (HSD) is 2.09 rupees more expensive than before, costing Rs. 247.43 as opposed to Rs. 244.44. Also, the kerosene oil price increased by Rs. 10.92, moving from Rs. 199.40 to Rs. 210.32. Last but not least, the price of light diesel oil (LDO) increased by Rs. 9.79, going from Rs. 191.75 to Rs. 201.54.
