Beginning on September 15, it is predicted that the price of gasoline and diesel in Pakistan will drop for the fourth time in a row, maybe by around Rs10 per liter.
International prices for gasoline and high-speed diesel have reportedly decreased by about $5 per barrel during the last two weeks, according to media reports. The existing tax rates and the latest exchange rate may result in a reduction of Rs 10 to Rs 11 per liter.
Speculation has it that the government may increase the petroleum levy by Rs5 per liter in order to make up for a Rs100 billion revenue shortfall that the Federal Board of Revenue (FBR) revealed for the first two months of the current fiscal year. The price decrease is anticipated to drop to about if this levy hike is put into effect.
