Petroleum prices decreased by Rs 2 per liter, Finance Minister Asad Umar

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Islamabad: Finance Minister Asad Umar announced that Petroleum prices decreased in Pakistan as he addressed from a press conference today.

Petroleum prices decreased as Asad Umar revealed in the press conference today. petrol and diesel prices were decreased by Rs 2 per liter. In addition, Light Diesel Oil (LDO) and kerosene oil prices were also lowered by Rs 5 and Rs 3 respectively.

In the recent summary, OGRA proposed the hike of Rs7.79 per litre in light diesel oil (LDO), Rs2.00 per litre in high speed diesel (HSD), Rs6.21 per litre in petrol, and Rs9.91 per litre in kerosene oil.


Also Read: OGRA recommends hike in petrol price by Rs 6.21 per liter

However, Finance Minister Asad Umar revealed the news that government will not increase oil prices but is working to reduce them.

According to sources, the government is already taking 4.5% General Sales Tax (GST) on petrol, 1.5% on kerosene oil, 12% on HSD, but no tax on LDO. OGRA also analyzed the petrol prices based on the 17% GST. In addition, US Dollar to PKR ratio in Pakistan also significantly increased as USD hit Rs 142 in inter bank market today.

5 COMMENTS

  1. It is quite a rare thing seen today that the dollar rate has increased and the rate of petrol has decreased in Pakistan. But anyway, it is a great news for the people of Pakistan that the rates of petroleum have been decreased.

  2. Yesterday we heard the news that OGRA gives the summary to increase the Petroleum prices up to 6 PKR but, it was a great bomb for us, but Alhamdulillah the finance minister clears that the price of petrol is decreasing by 2 PKR.

  3. Asad Umar also says that the Petroleum Price in Pakistan will decrease more in the month of December, I think it’s a great achievement by the Finance minister at the time when the rates of the US Dollar is out of control.

  4. Petroleum prices have decreased over 25% in world markets while we have only a reduction of about 2%, that too with a lot of favor to the nation. Hope it stays.

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