In a move to provide relief to the public facing rising prices, the caretaker government in Pakistan has reduced the price of petrol by Rs40 per liter and high-speed diesel (HSD) by Rs15 for the next two weeks.
According to an official announcement from the Ministry of Finance, the new price for petrol is now Rs283.38 per liter, and HSD will cost Rs303.18 per liter. This reduction in prices is attributed to international price fluctuations and an improved exchange rate.
These new prices came into effect at midnight on October 16 and will remain in place until the end of October. Here are the revised petroleum product prices for the upcoming two weeks:
- Petrol: Reduced from Rs323.38 to Rs283.38 per liter, a decrease of Rs40.
- High-speed diesel (HSD): Reduced from Rs318.18 to Rs303.18 per litre, a decrease of Rs15.
In addition to these reductions, the government has also lowered the prices of light diesel by Rs19.59 per liter and kerosene oil by Rs22.43 per liter for the next two weeks. This means that the new price for kerosene oil will be Rs214.85 per litre.
The interim government, led by Prime Minister Anwar-ul-Haq Kakar, has set a zero general sales tax (GST) on all petroleum products. However, the petroleum levy (PL) on petrol remains at Rs60 per liter. To meet tax collection targets for the fiscal year, the government has raised the PL on diesel by Rs5 to Rs55 per litre.