Good News: In a summary sent to finance department, Oil & Gas Regular Authority suggests a decrease of 4.59 rupees in per liter petrol price. Other petroleum products to get cheaper as well.
It all started when Special Assistant to the Prime Minister on Information Dr. Firdous Ashiq Awan announced the price cuts through her Twitter account, saying the government would pass on the benefit of lower prices in the international market to the public.
Later, Special Assistant to the Prime Minister on Petroleum Nadeem Babar told Dawn that “as per policy implemented last month, the government has decided to pass full impact of price reduction”.
However, this was soon contradicted by the finance ministry. “The new POL prices being reported in a section of the media are not correct. Official press release in this regard shall be issued tomorrow evening,” said a ministry statement received through WhatsApp.
Based on import parity price of the PSO for purchases in August, the ex-depot rate of HSD has been fixed at Rs127.14 per litre for Sept against Rs132.47 per litre at present.
Likewise, the ex-depot price of petrol has been brought down by about 3.9pc to Rs113.24 per litre instead of Rs117.83 per litre at present.
The ex-depot price of LDO has been reduced by Rs5.63 per litre (5.8pc) to Rs91.89 per litre instead of Rs97.52 at present. The price of kerosene oil has been fixed at Rs99.57 per litre instead of Rs103.84, showing a reduction of about 4.1pc.
The government is currently charging 17pc general sales tax on all petroleum products. Besides the GST, the government is charging petroleum levy at a rate of Rs18 per litre on HSD, Rs15per litre on petrol, Rs6 on kerosene oil and Rs3 per litre on LDO.