The price of petrol in Pakistan may decrease by Rs7.24 per litre and diesel by Rs16.61 per litre in the next fortnightly review if the government passes on the impact of the retreating global market by not raising taxation, latest news about the rates suggest.
Oil industry data shows that all petroleum prices are showing a declining trend; however, it is not clear if the government will pass on the impact or offset it by raising taxation. Industry calculations show that the ex-depot price of petrol has registered a Rs7.24 per litre decrease to Rs230.19 per litre for the next fortnight compared to the existing price of Rs237.43 per litre.
The ex-depot price of diesel has decreased by Rs16.61 to Rs230.82 per litre for the next fortnight compared to the current price of Rs247.43 per litre and ex-depot price of light diesel reduced by Rs10.87 to Rs186.41 per litre for the upcoming fortnight compared to Rs197.28 per litre now. The ex-depot price of kerosene declined by Rs14.20 to Rs187.82 per litre against Rs197.28 per litre currently.
The prices calculated by the oil industry are based on the existing taxation by the government. The government is charging zero general sales tax (GST) on petroleum products where the rate of petroleum levy (PL) on petrol is Rs37.42 and on diesel Rs7.58 per litre.
