On Thursday, the federal government reduced the cost of petroleum products by up to Rs 10 a liter, starting on December 16, 2022.
The government has lowered the cost of high-speed diesel by Rs7.50 a liter.
Ishaq Dar, the finance minister, announced during a news conference. High-speed diesel (HSD) has seen a price fall of Rs. 7.50 per liter while the cost of gasoline reduced by Rs. 10.
The price of gasoline, kerosene and light diesel oil (LDO) slashed by the government by Rs. 10 per liter.
Petrol Price in Pakistan History
| Date | Petrol | High Speed Diesel | Light Diesel | Kerosene Oil |
|---|---|---|---|---|
| Dec 15, 2022 | 214.8 | 227.8 | 169 | 171.83 |
| Oct 01, 2022 | 224.8 | 235.3 | 186.5 | 191.83 |
| Sep 21, 2022 | 237.43 | 247.43 | 197.28 | 202.02 |
| Sep 01, 2022 | 235.98 | 247.43 | 201.54 | 210.32 |
| Aug 16, 2022 | 233.91 | 244.44 | 191.75 | 199.4 |
| Aug 01, 2022 | 227.19 | 244.95 | 191.32 | 201.07 |
| Jul 15, 2022 | 230.24 | 236 | 191.44 | 196.45 |
The cost of high-speed diesel has reduced, and it will now sold for Rs227.80 per liter. Petrol would be available for Rs214.80 per liter as a result of the price cut. Whereas the price of light diesel oil has lowered to Rs169 per liter, and kerosene will be sold for Rs171.83 per liter.
The estimate indicated that during the second half of December 2022, the price of HSD will decreased by Rs12.37 per liter.
When petroleum products hit the maximum limit for petroleum levy, which was Rs50 per liter on each petroleum product, the government promised the International Monetary Fund (IMF) that it would begin to apply general sales tax (GST) on them.
The government applies a petroleum tax of Rs50 per liter on gasoline, Rs25 per liter on high-speed diesel, Rs7.01 per liter on kerosene, and Rs15.39 per liter on low-density octane. Nevertheless, the government assured the foreign lender that it will raise the fuel duty on HSD to Rs50 by April 2023.
The HSD is frequently utilize in the transportation and agricultural industries. Therefore, the partial drop in its price was also a huge comfort for the transportation and agricultural industries, which would have had an inflationary effect on people’s daily life.
During the most current weekly review, the government lowered the costs of light diesel oil (LDO) and kerosene. The past four weekly evaluations, however, did not affect the cost of gasoline and diesel.
