Petrol price likely to decrease by Rs7.5 per litre today
The price of petrol is likely to decrease by Rs7.5 and diesel by Rs9 from today (December 15) due to a sharp decline in rates of POL in international markets, according to industry sources.
Sources said that new price would be calculated on the basis of the crude oil prices in the international markets till December 14.
The impact of crude oil prices in the global market could affect oil prices in Pakistan as the price of diesel is expected to decrease by Rs9 per litre, while the price of petrol may slash by Rs7.5 per litre, sources said.
Sales tax and petroleum levy (PDL) is expected to increase as per the agreement with International monetary fund (IMF).
Sources added that government could adjust PDL with decrease in petroleum products.
Earlier on November 30, Finance Minister Ishaq Dar announced that the prices of petrol and diesel would remain unchanged for the next fortnight.
In a televised address, he said: “The government has decided to maintain the price of high speed diesel (HSD) […] there will be no change. As for petrol, there will be no change and it will remain unchanged from Dec 1 to 15.”
The government had previously kept the prices of all petroleum products unchanged on Oct 15, Oct 30 and Nov 15.