Government cuts diesel, petrol prices for next fortnight

MG News | October 01, 2022 at 12:07 AM GMT+05:00

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October 1, 2022 (MLN): The government on Friday reduced petrol and diesel prices by Rs12.63 and Rs12.13 per liter, Finance Minister Ishaq Dar announced in a press conference held late on Friday.

“The petrol price has been reduced to Rs224.80 per litre from Rs237.43, and HSD will now be sold at Rs235.30, down from the existing Rs247.43”, he said.

Similarly, the price of light speed diesel and kerosene oil were slashed by Rs10.78 and Rs10.19 per litre.

Government cut petrol prices after reducing IFEM and petroleum levy by Rs1.96 and Rs5 per litre respectively. As of Oct 1, IFEM and petroleum levy on per litre petrol stands at Rs2.53 and Rs32.42 respectively. The imported price of petrol also declined by Rs5.67 to Rs179.17 due to ease in international crude oil prices.

On the other hand, the government increased PL on diesel by Rs5 to Rs12.58 while slashing the IFEM by Rs1.93 per liter. Meanwhile, the import price of diesel fell by Rs15.20 to Rs213.80 during the last fortnight.

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