The decline in petroleum products’ prices in Pakistan is anticipated in the wake of reduction of oil prices in the international market.

Sources indicate that there is a strong possibility that the federal government will slash the prices of petroleum products locally for the next fortnight. They stated that a reduction of Rs13 per litre in petrol and Rs10 in diesel price is expected.

OGRA will send a summary regarding adjustments in petroleum product rates to the prime minister. However, the prime minister will announce the final prices after holding consultations with finance minister.

Although the there is no General Sales Tax (GST) on the petroleum products, the government collects around Rs76 per litre in taxes on petrol and HSD, including a Petroleum Development Levy (PDL) of Rs60 per litre.