ISLAMABAD: Consumers across country are anticipating a significant relief in prices of petroleum products from April 16 due to the continuous decline in global crude oil prices; however, the government will review the prices on April 15.
According to an estimate, the petrol price may go down by Rs8.50 per litre, and the price of high-speed diesel (HSD) may reduce by up to Rs6.96 per litre in the next fortnight.
Kerosene may become cheaper by Rs7.47 per litre while light diesel oil may become cheaper by Rs7.21 per litre.
Sources revealed that the government may exercise its discretion to revise the proposed prices by adjusting taxes.
Last month, the government announced electricity relief for the public, increased the petroleum levy rate, and maintained petrol prices.
The government is also considering providing relief to refineries which claim having Rs13 billion losses during the first nine months of the current fiscal year as a result of sales tax exemptions, shrinking margins, and inventory losses.
Either by shifting relief of Rs4.60 per litre in the Inland Freight Equalisation Margins (IFEM) or by imposing a 3-5 per cent sales tax on petroleum products.
However, the final decision will be announced on April 15th night on the recommendations of the Oil and Gas Regulatory Authority (OGRA).
Copyright Business Recorder, 2025
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