Latest petrol price in Pakistan: Rs283.38 per litre till October 31

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ISLAMABAD: Latest petrol price in Pakistan: Rs283.38 per litre till October 31. The caretaker government on Sunday slashed petrol prices by Rs40 per litre and high-speed diesel (HSD) prices by Rs15 in response to the fluctuations in global oil prices and rupee’s appreciation against the dollar.

The new price of petrol is Rs283.38 and HSD is Rs303.18, according to a notification from the Ministry of Finance.

After variations in international prices of the commodity and improvements in the exchange rate, the government has revised consumer prices for petroleum products.

Prices will go into effect at 12am (tonight, October 16) and remain in place until October 31.

New prices of petroleum products for the fortnight starting from October 16 will be as follow:  

ProductsExisting priceNew pricedecrease
High Speed Diesel (HSD) 318.18303.18-15

Further, the government has also cut the price of light diesel by Rs19.59 per litre and kerosene oil by Rs22.43 per litre for the next fortnight. The rates of kerosene oil will drop to Rs214.85 per litre following the massive reduction in petroleum product prices.

There is zero general sales tax (GST) on all petroleum products under the interim government, led by Prime Minister Anwar-ul-Haq Kakar, while petrol is subject to a petroleum levy (PL) of Rs60 per liter.

However, in order to generate additional revenue, the authorities increased the diesel tax from Rs55 per litre to Rs5 per litre in order to meet the tax collection target.

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