By Staff Reporter
ISLAMABAD: The government reduced the ex-depot price of high-speed diesel (HSD) by Rs 30 per litre and reduced other petroleum products by Rs 12 per litre for the next fortnight, effective from May 16 to May 31.
The petroleum levy (PL) on petrol and HSD remains at the maximum limit of Rs 50 per litre. The PL on kerosene oil has been fixed at 19 paisa, down from Rs 24.65, and Rs 7.18 per litre for light diesel oil.
Finance Minister Ishaq Dar, in a televised statement, said, “Prime Minister Shehbaz Sharif and his government are committed to providing maximum relief to the public by adjusting prices according to international market rates.”
“Effective from 12 pm tonight, petrol prices will be reduced by Rs 12 for the next 15 days, bringing the new price of petrol to Rs 270,” Dar said.
“The diesel prices will be reduced by Rs 30, making it Rs 258 per liter. Kerosene oil will now cost Rs 164.07 after a decrease of Rs 12, and the price of light diesel oil will be reduced by Rs 12 to Rs 152.68 per liter.”
Minister Dar urged transporters and other industries that utilize diesel to pass on the benefits to the public by lowering fares. “This move aims to ensure that every sector of the economy can benefit from this positive development.”
The government had previously maintained the price of petrol unchanged since April 30 and had reduced the price of high-speed diesel by Rs 5 per liter.
During the July-April period of FY23, Pakistan witnessed a significant decline in overall oil sales, with a 47 percent year-over-year drop to 1.171 million tonnes. Similarly, total sales contracted by 24 percent to 13.970 million tonnes. Analysts attribute this decline to a substantial decrease in furnace oil and diesel sales.
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