In Pakistan, Petrol Prices May Decrease By Rs.5 & Diesel Prices By Rs.15

September 27, 2022 / By Zunair Tahir / Pakistan News

Due to a substantial reduction in POL rates in foreign markets, petroleum product prices are expected to drop by up to Rs 15 starting on October 1st, according to industry sources on Tuesday.

According to estimations made by specialists in the oil business, the price of diesel may drop by Rs. 15 and that of gasoline may drop by Rs. 5 during the course of the next two weeks.

POL costs are anticipated to decline starting on October 1.
The cost of diesel may decrease by Rs 15.
Prices for gas might be reduced by Rs5.

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They stated that the new price will be determined based on the price of oil on the global markets through September 29.

“The POL prices will drop if the government chooses to keep the fuel levy at the existing percentage,” they continued.

The government is required to charge a fee on petroleum products as part of an agreement with the International Monetary Fund (IMF).

The application of a petroleum levy on gasoline is now set at Rs37.50 per liter and on diesel at Rs7.50 per litre, according to a notification released on September 1.

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On September 21, the government raised the price of gasoline from Rs235.98 to Rs237.43 while maintaining the price of High-Speed Diesel (HSD) at Rs247.43.

Kerosene’s price was cut by Rs. 8.30, from Rs. 210.32 to Rs. 202.02, while light diesel oil’s price was cut by Rs. 4.26, from Rs. 201.54 to Rs. 197.28.