ISLAMABAD: The government has started considering reduction in prices of petroleum products again.
The petroleum development levy is likely to be reduced by Rs 10 per liter. Reducing the levy could reduce the price of petrol by Rs 10 per liter.
On June 26, the government had increased the price of petrol by Rs 25 per liter, which drew a strong reaction from the people.
The Pakistan Tehreek-e-Insaf (PTI) government has changed the prices of petroleum products several times in the last 12 months.
On July 1, 2019, the price of petrol was Rs 112.68 per liter, diesel Rs 126.82 per liter and kerosene Rs 98.46 per liter.
In August, the prices of petroleum products increased by an average of Rs. In September 2019, the price of petrol was reduced by Rs 4.59 per liter, diesel by Rs 5.33 per liter and kerosene by Rs 4.27 per liter.
September prices were maintained in October. In November, the price of petrol was reduced by Rs 1, diesel by 27 paise and kerosene by Rs 2.39.
In December 2019, the price of petrol was reduced by 25 paise, diesel by Rs 2.04 and kerosene by 83 paise.
In January 2020, the average price of petroleum products was increased by Rs. 116.60 per liter, diesel by Rs. 127.26 per liter and kerosene by Rs. Maintained.
In March this year, the price of petrol and diesel was reduced by Rs 5 per liter while the price of kerosene was reduced by Rs 7.
Due to the coronavirus, new prices were announced on March 25 for the month of April, while the price of petrol was reduced by Rs 15.03, diesel by Rs 15 and kerosene by Rs 15 per liter.
In May 2020, the prices of petroleum products were further reduced by Rs 14.98 per liter for petrol, Rs 27.15 per liter for diesel and Rs 30.01 per liter for kerosene.
In June, the price of petrol was further reduced by Rs. Later, the new price was fixed at Rs 35.56.
Last month, petroleum pump owners stopped selling due to falling petroleum prices, leading to a shortage.
The government had fixed the price of petrol at Rs 100 per liter on June 26, 2020 with an increase of Rs 25, which ended the artificial shortage of petrol and now the government is once again considering a reduction in prices.
