Petroleum prices in Pakistan are probably going to decrease by 14 rupees, according to media reports.
Prices of all petroleum products are estimated to fall by Rs 14 per liter for the next 15 days till 31 March due to fluctuations in the international market and import premiums.
The current petrol price in Pakistan is 255pkr per liter expected to decrease to 242pkr per liter, while prices of light diesel will decrease from 153pkr per liter to 146pkr per liter.
Prices of petroleum products have decreased sharply in the international market.
Moreover, the Government is thinking of adding a carbon tax and increasing the petroleum levy on petrol in order to get an extra one billion dollars of financing from the International Monetary Fund as per government sources.
The government receives a 76pkr per liter tax on petrol and high-speed diesel and gets a 60pkr per liter petroleum development levy tax.
The government can increase petroleum development levy tax up to 70pkr per liter on petroleum products according to IMF standards.
After the addition of levy and carbon tax, the prices of petrol are expected to decrease by 14pkr per liter, high-speed diesel prices are expected to decrease by 8pkr per liter, kerosene oil to decrease by 10pkr per liter, and light diesel is to decrease by 7pkr per liter.
