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Petroleum prices likely to be dropped

petrol price
ISLAMABAD: Consumers are likely to face a reduction in prices of petroleum products by Rs. 5 to Rs. 10 in a move to provide relief to people.
According to details, , the government has decided to slash the price of petroleum products by Rs. 5 to Rs. 10. Likewise, the price of the diesel is expected to be reduced b Rs. 2 per litre.
Reportedly, the decision has been taken amid plummeting oil prices in the international market. Earlier this month, the federal government approved up to Rs30 cut in petroleum princes for May due to coronavirus pandemic.
According to a notification issued by the Finance Division, the petrol prices were reduced by Rs15 to Rs81.28 per litre. The price of high-speed diesel was slashed by Rs27.15 to Rs80.10 while the government approved a reduction of Rs15/litre in the price of light-speed diesel. The price of Kerosene oil was decreased by Rs. 30.01 to Rs47.44.
It is pertinent to mention here that the government is also charging 17 percent general sales tax (GST) on all petroleum products.

Read more: Sufficient diesel stock available in country: Petroleum Division

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