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Govt likely to slash fuel prices

The government reduced prices of petrol by Rs10 per litre. Source: FILE.

 ISLAMABAD: The government may slash the price of petrol by Rs11 per litre.

Sources privy to the matter said that the price of petrol is expected to decrease by Rs11 per litre while the price of high-speed diesel is likely to increase by Rs8 per litre.

The levy on petrol is likely to increase by Rs5 per litre and on diesel, kerosene and light diesel by Rs10 per litre, sources added.

On the other hand, the Ministry of Finance will announce a slashing of prices today, and the new prices will come into effect from August 1.

Read more: Cabinet approves increase in petroleum dealers’ margin

The government further burdened the masses, who are already concerned due to whooping inflation as the federal cabinet on Saturday approved increasing dealers’ margin on petrol and diesel by Rs7 per litre.

According to details, the government has approved an increase in dealer margin on diesel by Rs2.87.

While the dealer margin on petrol has been increased by Rs 2.10 per litre.

The increase in dealers’ margin will be effective from August 1.

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