Relief: Interim Govt Cuts Petroleum Prices By Rs40 Per Liter

The new prices will remain in effect till October 31

Relief: Interim Govt Cuts Petroleum Prices By Rs40 Per Liter

The caretaker administration on Sunday decreased the price of petrol by Rs40 per liter and that of high-speed diesel (HSD) by Rs15 for the following two weeks in an effort to ease the burden of inflation on the general public.

The Ministry of Finance has announced that the new price of petrol is Rs283.38 and the new price of HSD is Rs303.18.

The interim government has decreased the rates for petroleum goods at the retail level in response to changes in the commodity's worldwide price and an improvement in the exchange rate.

The new prices come into effect on October 16 and remain in place till October 31.

The government also decreased the cost of light fuel by Rs19.59 per liter and kerosene by Rs22.43 for the following two weeks. Kerosene oil prices would drop to Rs214.85 a liter following the dramatic decrease in the cost of petroleum goods.

The general sales tax (GST) for all petroleum goods is nil under the interim government of Prime Minister Anwar-ul-Haq Kakar, whereas the petroleum levy (PL) for petrol is Rs60 per liter.

However, the government hiked the levy on diesel by Rs5 to Rs55 per liter in order to raise more money and meet the tax collection target for this fiscal year.