Petroleum price likely to reduce in September

01:41 AM | 25 Aug, 2016
Petroleum price likely to reduce in September
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ISLAMABAD (Web Desk) - The price of petroleum goods are likely to be reduced by Rs4.50 per litre from September 1.

The prices of High Speed Diesel (HSD), Light Diesel Oil (LDO), High Octane Blending Component (HOBC) and kerosene oil will be cut down in accordance with the international grocery store.

The price of HSD, the most widely consumed petroleum products in the nation, was projected to be decreased by Rs3.46 per liter.

The summary proposed an increase of Rs2.80 per liter in the price of LDO, which is employed to run tubewells and pumps in the industrial sector.

The price of the high octane blending component (HOBC) may be reduced by Rs4.50 per liter.

The price of kerosene, which is used for cooking in remote areas, may go down by Rs3 per litre.

The Finance Ministry is considering increasing petroleum levy and General Sales Tax (GST) due to which the public will be deprived of relief.