Petrol price slashed by Rs8 for next fortnight – Business


The caretaker authorities on Monday decreased the price of petrol by Rs8 per litre for the next fortnight.

In a notification issued in the present day, the Finance Division stated the federal government determined to cut back the price of petrol for the fortnight ranging from January 16 as recomme­nded by the Oil and Gas Regulatory Authority.

According to the announcement, the ex-depot price of petrol was lower to Rs259.34 per litre in opposition to the earlier charge of Rs267.34 per litre.

There was no change within the price of excessive-pace diesel whereas no modifications had been talked about for the costs of sunshine-diesel oil and kerosene oil.

The authorities has already achieved a Rs60 per litre petroleum levy — the utmost permissible restrict underneath the legislation — on each petrol and HSD. The authorities had set a finances goal to gather Rs869 billion as a petroleum levy throughout the present fiscal yr underneath the commitments made with the International Monetary Fund (IMF) however hoped the gathering to transcend Rs950bn by the top of June.

Petroleum and electrical energy costs have been the important thing drivers of inflation, which clocked in at 29.7pc in December as measured by the Consumer Price Index.

At current, the federal government is charging about Rs82 per litre tax on each petrol and HSD.

Although the overall gross sales tax on all petroleum merchandise is at the moment zero, the federal government is charging Rs60 per litre petroleum improvement levy on petrol and Rs50 every on HSD, excessive-octane mixing element, and 95 analysis octane quantity (RON) petrol

Leave a Comment