The prices of MS gasoline and High-Speed Diesel (HSD) are anticipated to decrease tomorrow as a result of the recent decline in international oil prices.
On June 15, 2024, the federal government is anticipated to lower the price of gasoline and diesel by Rs. 9 and Rs. 5, respectively, per liter.
Also Read
In light of the aforementioned, it is anticipated that HSD will soon cost Rs. 265.22 per liter in Pakistan. MS prices are predicted to drop to Rs. 259.36 a liter in the interim.
The government lowered the price of gasoline by Rs. 4.74 per liter during the most recent fortnightly review of petroleum pricing on June 1. The cost of a liter of high-speed diesel was lowered by Rs. 3.86.
It is important to note that in the federal budget for 2024–2025, the administration has suggested imposing a five percent sales tax on gasoline items. Additionally, it has suggested raising the maximum petroleum duty to Rs. 80 per liter for both gasoline and high-speed diesel, an increase of Rs. 20 per liter over the previous amount.
In addition, the taxes on E-10 gasoline, Light Diesel Oil (LDO), and High Octane Blending Component (HOBC) will rise by Rs. 25 per liter to Rs. 75 per liter if authorized.
