Islamabad March 1 2022: Government of Pakistan has reduced prices of Petrol, and High Speed Diesel (HSD) by PKR 10 per litre.
Moreover prices of Kerosene and Light Diesel Oil (LDO) were reduced by PKR 1.00 per litre and PKR 5.66 per litre.
A L S O || R E A D
FBR meet meet revenue target for the month of February 2022 with collection of PKR 441 billion
The new effective prices will be MS (Petrol) PKR 149.86, High Speed Diesel (HSD) PKR 144.15, Kerosene (SKO) PKR 125.56 and Light diesel Oil PKR 118.31 per litre.
Petroleum levy on petrol has been reduced to PKR 1.82 from PKR 17.92.
These prices will be effective from March 01 2022.
However, the global petroleum products’ priccs are tracking the Ukraine- Russia war and resultantly surged to $100/bbl. The unprecedented increase is very risky for the domestic fuel prices and inflation. The situation leaves very fee options for the Government. Prior to today’s review. the Government has left more than Rupees 70 billion per month to keep the prices lower and providing relief to the masses.
Therefore, In the fonnightly review due on 28th February OGRA has recommended Rs10/litre increase in the petroleum products’ prices. But the Prime Minister has not only rejected the increase but also announced to decrease the prices of petroleum products by Rupees 10 per litre in his address to the nation in order to provide maximum relief to the consumers despite the limited fiscal space.
