ISLAMABAD In keeping with global prices, the government on Friday lowered the price of high speed diesel (HSD) and maintained the price of gasoline for the next two weeks, concluding December 31.
According to the finance ministry, Ogra calculated the consumer pricing of petroleum products by taking into account the price changes that have occurred in the global market during the past two weeks.
HSD’s ex-depot price dropped from Rs258.43 per litre over the previous two weeks to Rs255.38 per litre over the next 16 days, a reduction of Rs3.05 (1.18%). HSD powers the majority of the transportation industry.
Because it is mostly utilized in heavy-duty vehicles such as trains, trucks, buses, tractors, tube-wells, and threshers, its price is regarded as inflationary. It also raises the cost of vegetables and other consumables. cheaper diesel rates rarely result in cheaper transportation fares.
Currently, the ex-depot price of gasoline is kept at Rs252.10. Petrol directly affects middle- and lower-middle-class budgets and is primarily utilized in private transportation, small cars, rickshaws, and two-wheelers.
The government announced a drop of Rs2.78 per litre in the ex-depot price of light diesel to Rs148.95 per litre and a reduction of Rs3.32 per litre in the price of kerosene oil to Rs161.66.
Currently, the government taxes gasoline and HSD at a rate of roughly Rs76 per litre. The government charges Rs60 PDL per liter for both petroleum products, which typically affect the masses, even if GST is nil on all of them.
Regardless matter whether they are imported or produced locally, the government also levies a customs fee of around Rs16 per liter on gasoline and HSD.
Additionally, oil corporations and their dealers receive distribution and sale margins of around Rs17 per litre.
However, it charges Rs50 per litre for 95RON fuel used in luxury cars, light diesel, and high octane mixing components.
