Petrol price slashes by Re1

ISLAMABAD: Federal government keeping petroleum levy (PL) at maximum level decided to maintain the price of high speed diesel (HSD) at current level, however, price of petrol has been reduced by Re 1 per litre ahead of Eidul Fitr.

According to Finance Division statement, the price of HSD has been kept unchanged at Rs 258.64 per litre, whereas price of petrol has slightly reduced from Rs 255.63 to Rs 254.63 per litre for next review starting from March 29. The government had increased the rate of PL on petroleum products from Rs 60 to Rs 70 per litre in previous review started from March 16 to raise estimated Rs 15 billion additional revenue per month to bring down price of electricity.

In the statement, it has been said, “The Oil & Gas Regulatory Authority (OGRA) has worked out the consumer prices of Petroleum Products, based on the price variations in the international market. The prices of Motor Spirit & HSD starting from 29th March 2025”.

According to oil marketing companies estimated, the ex-depot price of petrol should go down by Rs 1.97 per litre from Rs 255.63 to Rs 253.66. The price of HSD was also projected to go down by Rs 2.40 per litre from Rs 258.64 to Rs 256.24 per litre.