F.P. Report
ISLAMABAD: The government is likely to slash the petrol price by up to Rs9 per litre from June 16.
The oil marketing companies indicate a possible reduction of approximately Rs 9 per liter in petrol prices and Rs 4 per litre in diesel prices.
According to OMC sources, the price of kerosene is estimated to decrease by Rs 2 per liter.
The final price of petroleum products will be determined by OGRA based on the global prices on June 13 and 14.
If the new rate approved, the price of petrol will drop from the current rate of Rs 268.36 per liter to Rs 259.36 per liter. High-speed diesel will be sold at Rs 266.22 per liter, down from the existing Rs. 270.22 per liter.
Additionally, the government has proposed raising the petroleum development levy (PDL) from Rs 60 to Rs. 80 per liter for the next fiscal year, starting July 1.
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