Web Desk (LTN NEWS): As of Tuesday, sources in the industry said that the government is likely to cut the prices of diesel and petrol by Rs15 and Rs5, respectively, on October 1, 2022. This is because POL rates have plummeted on the international markets.
Based on what experts in the oil industry have said, sources say that POL prices will go down for the next two weeks.
They said that the new price would be figured out based on the price of oil on international markets up until September 29.
“The price of POL will go down if the government keeps the petroleum levy at its current level,” they said.
The government has to collect PL on petroleum products because it has a deal with the International Monetary Fund (IMF).
A notice from September 1 says that petrol has a petroleum levy of Rs37.50 per litre and diesel has a petroleum levy of Rs7.50 per litre.
POL prices
On September 21, the government raised the price of gasoline from Rs235.98 to Rs237.43. The price of High-Speed Diesel (HSD) stayed the same at Rs247.43.
The price of kerosene went from Rs210.32 to Rs202.02, a drop of Rs8.30. The price of light diesel oil went from Rs201.54 to Rs197.28, a drop of Rs4.26.
