ISLAMABAD: The federal government on Wednesday announced a reduction in petrol prices and other petroleum products, with the new rates taking effect from midnight tonight, according to a notification issued by the Finance Division.
As per the notification, the petrol price has been reduced by Rs5.66 per litre, bringing the new petrol price to Rs263.02 per litre.
The high-speed diesel (HSD) price has been slashed by Rs1.39 per litre, setting the new rate at Rs275.41 per litre. Similarly, the price of light diesel oil has been cut by Rs2.74 per litre, fixing its new rate at Rs162.76 per litre.
Meanwhile, kerosene oil has also become cheaper by Rs3.26 per litre, with the new price set at Rs181.71 per litre.
The government stated that the revised petrol prices will come into effect from 12 a.m. tonight, aiming to provide relief to consumers amid fluctuating global oil rates.
Petrol Price in Pakistan- Latest Updates
Pakistani consumers are paying massive taxes and duties on petroleum products, here’s the detailed breakdown of the taxes.
According to a document acquired by ARY News, for petrol, taxes and duties amount to Rs101.49 per litre, including a petroleum development levy (PDL) of Rs75.52 per litre, a newly introduced climate levy of Rs2.50 per litre effective July 1 (today), a freight margin of Rs6.98 per litre, an oil company margin of Rs7.87 per litre, and a dealer margin of Rs8.64 per litre.
The ex-refinery price of petrol stands at Rs165.30 per litre. For high-speed diesel (HSD), taxes and duties total Rs95.74 per litre, comprising a PDL of Rs74.51 per litre, a climate levy of Rs2.50 per litre, a freight margin of Rs2.09 per litre, an oil company margin of Rs8.00 per litre, and a dealer margin of Rs8.64 per litre. The ex-refinery price for diesel is Rs177.24 per litre.
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