ISLAMABAD – The federal government on Friday slashed the petroleum prices by up to Rs5.31 per litre for the next fortnight.
According to a notification issued by the Finance Ministry, the price of high-speed diesel price was decreased by Rs5.31 per litre and petrol was slashed by 50 paisas.
Light diesel price was slashed by Rs2.47 per litre. The price of kerosene oil was also reduced by Rs3.53 per litre.
Petrol is widely used in private vehicles, motorcycles, and small transport, making any price hike a burden on middle and lower-income groups.
Diesel is crucial for heavy transport, agriculture, and railways, meaning its price fluctuations directly impact inflation and the cost of essential goods.
The government continues to collect approximately Rs76 per litre in taxes on both petrol and diesel, despite keeping the general sales tax (GST) at zero. This includes a petroleum development levy (PDL) of Rs60 per litre and customs duties of Rs16 per litre.
