Petroleum division collected Rs206.28bn in taxes from petroleum products this year

• Price of petroleum products were increased six times, while the rates were slashed 11 times during the year.
• Rs45.75 is collected in tax on diesel per liter, while Rs35 tax is charged on petrol per liter.

The current government changed the rates of petroleum products 17 times in one year, of which the prices were increased six times and slashed 11 times, said Federal Minister for Power and Petroleum Omar Ayub Khan on Friday.

According to the petroleum division, the authorities collected Rs206.28 billion in taxes from petroleum products this year, in their written reply to the National Assembly. The division informed that Rs45.75 is being collected in tax on diesel per liter, whereas, Rs35 is collected in taxes on petrol per liter, Rs20 is collected in tax on kerosene per liter, and Rs14 per liter is collected in tax on light diesel.

In a written reply to the National Assembly, it was also told that the notion of decline in oil prices in the global market was not true. Oil prices in the global market is susceptible to rise and decline.

Just days ago, the government had announced a reduction in petroleum prices up to Rs2.90 per liter for the month of December. According to a statement issued by the finance ministry, the government decided to decrease price of High Speed Diesel by Rs2.4 and new price of the product would be Rs125.01 per liter.

Similarly the price of MS petrol has also been cut by Rs0.25 per liter from Rs114.24 to Rs123.99 per liter. The price of Kerosene oil has been cut by Rs0.83 while that of Light Diesel Oil reduced by Rs2.9 per liter.

The new prices for kerosene oil and light diesel oil for the month of December has been fixed at Rs96.35 and Rs83.43 per liter.