Petrol Diesel Price: Good news for common people. Due to tensions between Iran and the US-Israel, crude oil prices continue to fluctuate. Despite the fluctuations in crude oil prices, the Pakistani government has been consistently reducing the prices of petrol and diesel. In this regard, on Friday, the government once again reduced the price of petrol by Rs 4 per liter and diesel by Rs 2 per liter with immediate effect.
This is the fifth consecutive week of reductions in petrol prices. This has resulted in a total reduction of Rs 41 per liter. Who will be unable to purchase Petrol and diesel from retail outlets?
What is the current rate list?
Following this latest reduction, the price of petrol in Pakistan has decreased from Rs 377.78 to Rs 373.78 per liter, while the price of high-speed diesel (HSD) has dropped from Rs 380.78 to Rs 378.78 per liter. A notification from the Petroleum Division confirmed that these new prices will take effect on June 13 (Saturday).
Currently, the government imposes around ₹100 per liter on high-speed diesel through customs duty, petroleum levy, and climate support levy. The total tax on petrol amounts to Rs 125 per liter, which encompasses the petroleum levy, customs duty, and climate support levy. Additionally, the government charges approximately ₹21 per liter on kerosene and about Rs 16 per liter on light diesel oil.
How much does the government earn?
The Pakistani government earns the most revenue from petrol and HSD. Their monthly sales are approximately 700,000 to 800,000 tons, while the monthly demand for kerosene is only 10,000 tons. Petrol is mostly used in private transport, small cars, rickshaws, and two-wheelers, and it directly impacts the budgets of the middle and lower-middle classes. HSD is primarily used in the heavy transport sector and large generators.
Petrol and diesel prices in India
Petrol and diesel prices have risen by around Rs 7.5 per litre in just a month, and if crude oil prices remain elevated, the hike could reach Rs 10 per litre in the near future, ratings agency Crisil has predicted.