2024-04-26 05:25:51
(Web Desk) Good news for the people who are worried about inflation, due to the reduction in oil prices in the global market, ex-depot prices of petrol and high speed diesel are likely to decrease by Rs 8.3 paise per litre.
Globally, the price of diesel and gasoline decreased by 4.3 dollars per barrel and 1.86 dollars per barrel, due to which the prices are expected to decrease in the local market as well. Oil industry experts say that the prices of petroleum products are decreasing globally. And if this trend continues, the prices will decrease in Pakistan as well.
According to an estimate, in the review of the prices of petroleum products by the federal government for May 1 to 15, 2024, the price of petrol is 4 rupees 88 paise per liter and the price of high speed diesel is 7 rupees 37 paise per liter. The price of light diesel oil is likely to decrease by Rs. 8.03 paise and by Rs. 5.37 paise per litre.
The Oil and Gas Regulatory Authority (OGRA) will submit its recommendations regarding the prices of petroleum products to the Finance Division on April 30, 2024.
In case of price reduction, the price of petrol will be Rs 289.06 per liter instead of Rs 293.94 and the new price of high speed diesel is expected to be reduced from Rs 290.38 per liter to Rs 283.01 per litre.
Kerosene price is likely to decrease to Rs 185.05 per liter from Rs 193.08 and LDO price is likely to decrease to Rs 168.97 per liter from Rs 174.34 per litre.
It may be noted that the government is charging Rs 60 per liter Petroleum Levy (PL) on petrol and high speed diesel (HSD) but the General Sales Tax (GST) has been kept at zero.
On the other hand, Abdul Sami Khan, head of Petroleum Dealers Association, said yesterday that they completely reject the deregulation, the government is trying to deregulate petroleum products, the government wants to get rid of the method of determining the prices of petrol and diesel. Deregulation will have a direct impact on the common man.
Petroleum Dealers Association further said that the government has put pressure on the oil marketing companies, the Pakistani economy is not ready to accept this change, the supply of fuel is with 3 major oil marketing companies, whose market share is more than 75%. , a monopoly situation will arise, companies will become empowered after determining profits, people will be forced to buy petroleum products offered by oil marketing companies, prices will rise significantly in the northern regions. , will have a direct impact on the quality of life.
Chairman Petroleum Dealers Association Abdul Sami Khan said that if the government deregulates, then they will close the petrol pumps across the country and go on strike. Oil will be sold, oil smuggling is already a big problem, the fee will be increased
2024-04-26 05:25:51