Government announces Slight change in petrol and diesel prices

 Government decreases petrol prices Rs 3.05 but jack up diesel prices Rs8.95 per litre

According to the statement issued by finance ministry, The Government of Pakistan has announced to decreasing the price of petrol by Rs3.05 per litre for the first half of August 2022 while increasing the price of diesel Rs8.95 per litre.

The new price of  petrol is Rs227.19 per litre. Previously, petrol was being sold in the country for Rs230.34 per litre. The new price of diesel is Rs244.95 per litre. The price of Kerosene was similarly increased by Rs4.62 per litre while that of light diesel oil (LDO) was reduced by Rs0.12 per litre.

According to the notification, the changes were introduced following a reduction in the prices of petroleum products in the international market.

"Owing to the fluctuation in petroleum prices in the international market and exchange rate variations, the government has decided to revise the existing prices of petroleum products to pass on the impact to the consumers," the statement read.

The government wanted to cut down the price of diesel and petrol significantly  but three major factors,  currency depreciation, higher petroleum development levy (PDL) and increase in dealer commission  deprived the consumers of the benefit of the international price cut.

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