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ISLAMABAD: The federal government Wedn-esday announced a decrease in the rates of petroleum products in the first half of April by reducing the cost of supply of PSO/ex-refinery prices, while keeping petroleum levy unchanged.

The government has reduced the price of petrol by Rs1.55 per litre.

The price of high speed diesel (HSD) is also slashed by Rs3.00 per litre.

The price of kerosene oil (SKO) is reduced by Rs1.55 per litre and light diesel oil (LDO) by Rs1.56 per litre.

The Finance Division stated the reduction in the prices of petroleum products. The announcement was made owing to downward trend of Brent internationally.

The new prices have been implemented with effect from April 1 till April 15, 2021.

The new price of petrol is Rs110.35 per litre instead of Rs111.90 per litre.

The price of HSD is now Rs113.08 per litre, which was Rs116.08 per litre.

The price of SKO is Rs82.06 per litre, which was Rs83.61 per litre, and price of LDO is Rs79.86 per litre, which was Rs81.42 per litre in March.

Cost of supply of PSO/ex-refinery price is reduced by Rs1.76 per litre on petrol.

In second half of March, the price was Rs74.04 which is reduced to Rs72.28 per litre.

The rate of PL is Rs11.23 per litre at the level of second half of March.

There is slight change in general sale tax (GST).

It is Rs16.03 per litre which was Rs16.26 in second half of March.

The reduction was made in line with the recommendations of the Oil and Gas Regulatory Authority (OGRA).

The government has also levy PL at Rs1.74 per litre on SKO, which was zero in last half of March.

The GST on SKO is also reduced to Rs11.92 per litre to Rs12.15 per litre.

The prescribed price is also down to Rs67.25 per litre from Rs68.59 per litre.

The government had increased the prices of SKO and LDO by Rs3.42 per litre and Rs2.19 per liter with effect from March 16 till March 31, 2021.

Sources said that the PL on HSD is also increased from Rs12.77 per litre and also revised the ex-refinery price.

The regulatory body had recommended to the government to increase the price by Rs5.99 per litre.

Copyright Business Recorder, 2021

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