Islamabad, July 8 (TNS): Prices of petroleum products have been dropped by up to Rs6.37 per litre from Sunday in order to provide relief to the general public.
According to a notification issued by the Ministry of Finance, the petrol price has been reduced by Rs4.26 per litre and the new price will be Rs95.24 per litre, high-speed diesel by Rs6.37 to Rs112.94, kerosene by Rs3.74 to Rs83.96 while price of light diesel has been reduced by Rs5.54 per litre and its new rate is Rs75.37.
The reduction in the prices of petroleum products will be effective from midnight Saturday, the notification read.
The caretaker government had on July 1 increased the price of petrol by Rs7.54 to Rs99.50 per litre, diesel by Rs14 to Rs119.3 and kerosene by Rs3.36 to Rs87.7, besides raising the rates of other products.
Taking suo motu notice on the exorbitant and unreasonable tax, cess, duty and fee on petroleum products, the Supreme Court had asked the stakeholders to work out a comprehensive plan and come up with suggestions on how much tax can be curtailed to keep the prices at a reasonable level.
