Govt may cut petrol price by Rs2.97, diesel Rs2.31 from Sept1

ISLAMABAD: The government is likely to provide relief of Rs2.97 per liter in the price of petrol and Rs2.31 per liter in high-speed diesel (HSD) from September 1 for the next fortnight till September 15, the government and industrial sources told The News. This relief in petroleum products prices would be the third in a row.

“Since the trend of petroleum products prices in the international market is downward, which is why a decrease in POL prices is certain from September 1.”

Likewise, the sources said, the price of kerosene oil is projected to decrease by Rs1.39 per liter and Light Diesel Oil by Rs1.96 per liter. The new price of petrol may be set at Rs257.99 from Rs260.96 per liter and diesel at Rs263.76 per liter from the existing price of Rs266.07 per liter. The new price of kerosene oil is likely to be at Rs170.38 per liter from Rs171.77 per liter and light diesel oil at Rs155.06 per liter from Rs157.02 per liter. The new POL prices have been calculated based on the current taxes and petroleum levies.