Govt reduces prices of petroleum products

ISLAMABAD: The federal government has reduced the prices of petroleum products by Rs. 2 per litre.

According to details, the government has reduced the price of High-Speed Diesel (HSD) by Rs. 2 per litre, whereas the price of petrol is maintained at the same rate until further orders.

The current price of petrol stands at Rs 103.97 per litre. Earlier today, the Oil and Gas Regulatory Authority (Ogra) had recommended reduction in the price of petroleum products for the month of October to benefit consumers.

The revised prices will remain effective until 15th October. Earlier, the Oil and Gas Regulatory Authority (Ogra) had suggested to the government to cut the prices of petrol by Rs1.15/litre and diesel by Rs2/litre for the first half of October 2020.

It is worth mentioning that the government is charging 17% general sales tax (GST) on all petroleum products. Apart from it, the government is also collecting petroleum levy (PL) on these outcomes, which is directly taken from consumers.