No relief for Pakistanis despite decreasing prices of petroleum products in international market

Despite the fact that oil prices decreased in intl market Pakistan faced a high inflation trend.

ISLAMABAD (Dunya News) – People of Pakistan are unable to get a relief from the reducing prices of petroleum products in international market as the incumbent government has increased the prices up to Rs 13 in 8 months.

Despite the fact that oil prices decreased in international market Pakistan faced a high inflation trend. Petrol price increased by Rs 13 from August 2018 to May 2019 in Pakistan.

The price of high speed diesel saw a hike of Rs9.38 from August 2018 to May 2019 where light diesel was up by Rs 11.57.

The Kerosene oil was up by Rs 12.81 in the same period. And know the petrol has reached at Rs 108.31 per liter. High speed diesel is being sold at Rs 122.32 after an increase of Rs 10. Light diesel has reached at Rs 86.94 from Rs 75.37 per liter.

The Kerosene oil is being sold at Rs 96.77 in the Pakistani market.

In August 2018 oil price was $72.53 per barrel in international market. While in May 2019 the oil price stands at $70.85 per barrel. Sales tax has been increased from 9 to 12 percent in this time period.

The incumbent government has increased sales tax on kerosene oil from 6 to 17 percent and in last 8 months sales tax on light diesel has been increased up to 17 percent. However the sales tax on high speed diesel has been reduced to 17 percent from 22 percent.