Govt declines petrol prices by Rs3.05 per litre

August 1, 2022 (MLN): The federal government has decided to reduce petrol prices by Rs3.05 per litre and increase the price of diesel by Rs8.95 per litre, Federal Minister for Finance and Revenue Miftah Ismail informed on Sunday.

According to a statement issued by Finance Division, “Owing to the fluctuations in petroleum prices in the international market and exchange rate variation, the government has decided to revise the existing prices of petroleum products to pass on the impact to the consumers.”

The new prices are effective from August 1, 2022, it read.

Accordingly, the price of Kerosene has moved up by Rs4.62 per litre while the price of light diesel oil (LDO) has been reduced by Rs0.12 per litre.

The new prices of petroleum products are stood at Rs227.19 per litre for petrol, while HSD, Kerosene and LDO are available at Rs244.95, 201.07 and 191.2 per litre.

Meanwhile, the government has also doubled the amount of petroleum levy on all petroleum products. Accordingly, Rs20 per litre will be charged on petrol while Rs10 will be charged on kerosene and LDO each in terms of petroleum levy. 

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