The government of Pakistan has set new fuel prices effective for the next fortnight. According to the latest details, petrol prices will remain stable at Rs. 252.10 per litre, while there have been notable reductions in the prices of other fuels.
High-speed diesel prices have reduced Rs. 3.05, bringing the new price to Rs. 255.38 per liter. Additionally, kerosene oil prices have decreased by Rs. 3.32, now priced at Rs. 161.66 per liter. Light diesel oil also shows a decrease of Rs. 2.78 per litre, setting the new price at Rs. 148.95 per litre.
The Ministry of Finance has officially issued a notification about these changes, which will take effect starting at midnight tonight.
Read: Petrol Prices Jump Rs3.72 per Litre Across Pakistan in December
It’s important to note that despite these reductions, there has been a significant increase in petroleum prices in recent months. Over the past month and a half, the price of high-speed diesel escalated by Rs 12.14 per litre and petrol by Rs 5.07 per litre. Sources suggest that these increases could have been mitigated by reducing the petroleum levy, but restrictions from the IMF program have limited such adjustments.
A levy of Rs 60 per litre is applied to petrol and high-speed diesel. The collection from the petroleum levy has notably increased, with Rs 261.69 billion collected from July to September 2024, marking an increase of Rs 39.62 billion compared to the same period last year.
The government’s target for collecting petroleum levy for the current fiscal year is set at Rs 1,281 billion, according to sources.
