Government cuts petrol price by 5 rupees per liter
New prices of petroleum products will applicable from 1st March.
Islamabad (Dunya News) – The government has decided to decrease prices of petroleum products for March to provide relief to the consumer.
According to a statement of Finance Division on Saturday, the prices of petrol and High Speed Diesel have been reduced by 5 rupees per litre each while the Kerosene and Light Diesel Oil will be sold out decreasing 7 rupees per litre each.
After revision of prices, petrol price has been fixed at Rs 111.60, high speed diesel at Rs 122.26, kerosene oil at Rs 92.45, and light diesel oil at 77.51 rupees per litre.
The statement said that the government is committed to extend relief to the public whenever fiscal space becomes available.
The new prices will come into effect from midnight.
Earlier on Friday, the Oil & Gas Regulatory Authority (Ogra) had submitted a summary to the Petroleum Division suggesting a cut of at least Rs5.79 per litre in the petrol price.
The summary had also recommended to reduce the price high speed diesel (HSD) by Rs7.23 per litre.
On the other side, government has increased levy on petroleum products. On diesel, an increase of 7.50 rupees imposed. Now the levy on diesel is 25.50 rupees. While on petrol, it has got 19.75 rupees with the rise of 4.75 rupees.
On kerosene oil, the levy has got 12.33 rupees with rise of 6.30 rupees.
Levy also increased by 1.94 rupee on light speed diesel to reach at 4.94 rupees.
