GOVT LIKELY TO DECREASE PETROLEUM PRICES BY RS 8 TO 21 PER LITRE

ISLAMABAD: The government has decided to decrease prices of petroleum products, first time in its three months’ tenure.

Petroleum levy, imposed by the government, will likely to remain in place. The levy on petroleum has been Rs. 10 per litre, while high speed diesel, kerosene oil and light diesel carrying five rupees per litre levy.

According to sources, the price of petroleum will likely to be decreased by eight rupees and diesel price by 20 rupees per litre. Moreover, kerosene oil and prices likely to be decreased by Rs 21 and 11 per litre respectively.

The coalition government led by the PML-N has enhanced the price of petroleum by 66 to 95 percent in its brief tenure.

The government has made per litre hike of 99 rupees in petrol price, while diesel price has been enhanced by 132 rupees per litre, kerosene oil Rs. 111 per litre and light diesel by 100 rupees per litre.

Prime Minister Shehbaz Sharif yesterday sought a summary from finance and petroleum ministries for reduction in the price of petroleum products after global crude oil rates went down.