ISLAMABAD – Inflation-weary people are expecting a cut in petrol prices in the month of Ramadan, but the newly elected government is likely to keep prices of petroleum products same for second half of March 2024.
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Reports in local media quoting sources in government said petroleum prices are likely to remain unchanged until March 31. It said premium on petrol imports moved up to $12.15 per barrel from $10.45 in Feb, while the exchange rate and international product prices have remained stable.
Other than no change in exchange rate, premium on high-speed diesel (HSD) imports also stayed the same at $6.50 per barrel.
Furthermore, prices of light diesel oil and Kerosene are also likely to remain unchanged for the next two weeks. Currently, authorities reached maximum permissible limit of petroleum levy.
Petrol Price in Pakistan
POLs
Price
Petrol
Rs279.75
Diesel
Rs287.33
Sharif’s government is now looking to generate over Rs950 billion from petroleum levy.
As of early 2024, people are paying Rs82 per litre tax on both petrol and High speed Diesel. The general sales tax (GST) remains zero, the government levies Rs60 per litre petroleum development levy (PDL).
