ISLAMABAD: Government has slashed the prices of petroleum products, including petrol and diesel by Rs18.50 and Rs40.54 respectively. In an address to the nation on Thursday night, the prime minister cited declining prices of oil in the international market as the reason for lowering prices of petroleum products.
Later, a news release issued by the Finance Division, said that new prices will be effective from July 15.
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Per the notification, after a Rs18.50 cut in prices, the new cost of petrol will be Rs230.24 per liter.
Similarly, a cut of Rs40.54, the new cost of High Speed Diesel will be Rs236 per liter.
The price of Kerosene oil was lowered by Rs33.81 from Rs230.36 to Rs196.45 per liter.
Prices of Light Diesel Oil were slashed by Rs34.71 from Rs226.15 to Rs191.44 per liter.
The government maintained the Rs10 petroleum levy on petrol and Rs5 on High Speed Diesel, Kerosene and Light Diesel oils. Moreover, no sales tax is being collected on petroleum products.
