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What Will Be The Petrol Price In Pakistan From March 16?

What Will Be The Petrol Price In Pakistan From March 16?

Concerned citizens, weary from inflation, anticipate a reduction in petrol prices during the month of Ramadan. However, the newly instated government is expected to maintain the current prices of petroleum products for the latter half of March 2024.

According to reports from local media, government sources suggest that petroleum prices will likely remain unchanged until March 31. It is noted that the premium on petrol imports has increased to $12.15 per barrel from $10.45 in February, while the exchange rate and international product prices have remained stable.

Read more: Petrol Price To Hike In Pakistan From 1st March

Furthermore, there has been no alteration in the exchange rate, and the premium on high-speed diesel (HSD) imports remains steady at $6.50 per barrel.

Likewise, the prices of light diesel oil and kerosene are anticipated to remain unchanged for the following two weeks. At present, authorities have reached the maximum permissible limit of petroleum levy.

The Sharif-led government aims to generate over Rs950 billion from petroleum levy.

As of early 2024, consumers are subject to a tax of Rs82 per litre on both petrol and high-speed diesel. While the general sales tax (GST) remains at zero, the government imposes a petroleum development levy (PDL) of Rs60 per litre.