Govt Reduces Diesel Price by Rs 5 Per Liter
The government has reduced the diesel price by Rs 5 per liter effective from May 1, 2023 due to fluctuation in global oil prices. Therefore, today diesel price is Rs 288 per liter.
High speed diesel is widely used in transport and agriculture sectors.
The Kharif crop season is going and therefore decrease in price of diesel will have a healthy impact on farmers who are already facing higher oil prices.Fuel Your Knowledge: Check Out the Latest Furnace Oil Prices in Pakistan Today!
The government is currently charging a maximum rate of petroleum levy (PL) up to Rs 50 per liter on petrol, high speed diesel and HOBC to boost their revenue.
Therefore, the government passed on relief to the consumers on high speed diesel.
After fresh reduction in price, the diesel will be sold at Rs 288 per liter against earlier price of Rs 293 per liter.
The government was also expected to reduce price of petrol by Rs 3.86 per liter.
However, it has maintained existing price of petrol at Rs 282 per liter, denying relief to the consumers.
The petrol is used by motorbikes and cars. This is also an alternative to CNG.
After gas shortage and higher prices of LNG, the CNG retail outlets had shut down during the recent winter season.
Therefore, the consumers mainly in Punjab were depending on expensive use of petrol for motorbikes and cars.
Kerosene oil is used in remote areas of Pakistan for cooking purposes especially in the northern part of the country where LPG was not available for cooking purposes.
The Pakistan army was also a key user of kerosene oil in the northern part of the country.
The government has reduced the price of kerosene oil by Rs 10 per liter liter.
KERO will now be available at price of Rs 176.07 per liter compared to old price of Rs 186.07 per liter.
The government had also slashed price of light diesel oil (LDO) by Rs 10 per liter.
It will be sold at Rs 164.68 per liter against old price of Rs 174.68 per liter.
LDO is used in industry.
The dollar had witnessed a decline of Rs 2.57 from 286.66 to Rs 284.09 during the last fortnight.
The prices are based on the Platts.
