Petrol 8, diesel 20 rupees per liter likely to be cheaper

ISLAMABAD: The federal government is likely to reduce the price of petrol by Rs 8 and diesel by Rs 20 per liter.

According to sources, the federal government has decided to reduce the prices of petroleum products. The price of petrol is likely to be reduced by Rs 8 per liter while the price of diesel is likely to be reduced by up to Rs 20. The price of kerosene can be reduced by Rs 21 per liter and light diesel by Rs 11 per liter.The existing petroleum levy on petroleum products is likely to be maintained, but the final decision on reducing the prices of petroleum products will be taken by the Prime Minister.

It may be recalled that Prime Minister Shahbaz Sharif had yesterday called for a summary to reduce the prices of petroleum products.Petroleum levy is currently levied at Rs 10 per liter, high speed diesel, kerosene and light diesel at Rs 5 per liter. The coalition government has increased the prices of petroleum products by 66 to 95 percent.It may be mentioned that the price of petrol has been increased to Rs 99 per liter and the price of diesel has been increased to Rs 132 per liter. The price of kerosene oil has been increased to Rs 111 per liter while the price of light diesel has been increased to Rs 100 per liter.