Business

Good news: Petrol price slashed by Rs12.63 litre

FinMin Ishaq Dar, while addressing his maiden press conference, says petrol will be available at Rs224.80 from Oct 1

By Saifur Rahman
September 30, 2022
Finance Minister Ishaq Dar addressing a press conference on September 30, 2022. — YouTube screengrab/PTV News Live
Finance Minister Ishaq Dar addressing a press conference on September 30, 2022. — YouTube screengrab/PTV News Live 

ISLAMABAD: Finance Minister Ishaq Dar on Friday announced a major reduction in the price of petrol and slashed it by Rs12.63 per litre. 

The newly appointed finmin, while addressing his maiden press conference in the federal capital, said that the decision to reduce prices of petroleum products has been taken after consultation with Prime Minister Shehbaz Sharif.

Following the changes, petrol will be available at Rs224.80 per litre from October 1. 

Meanwhile, there is also a decrease of Rs12.13 in the price of high-speed diesel, after which the new price will stand at Rs235.30 per litre. The price of light diesel oil will be Rs191.83 after a decrease of Rs10.19 per litre.

Commodity Existing pricesNew pricesPetroleum levySales tax %Increase/(-) Decrease
Petrol 
Rs237.42
Rs224.80
Rs32.420.00%Rs-12.63
Diesel 
Rs247.43
Rs235.30
Rs12.580.00%
Rs-12.13
Kerosene oil
Rs202.02Rs191.83
Rs150.00%
Rs-10.19
Light diesel oil
Rs197.28
Rs186.50
Rs100.00%
Rs-10.78

Moreover, the finance minister also announced a 31-day extension to the date of filing tax returns.

Later a statement issued by the Finance Division mentioned that the government decided to decrease the prices of petroleum products in the wake of the reduction of petroleum products prices in the international market and with a view to providing relief to the consumers.