ISLAMABAD: The federal government has reduced petroleum products prices by up to Rs9 per litre. In a televised press conference, Finance Minister Ishaq Dar announced the reduction in petroleum products prices, saying no changes have been made to Petroleum Levy (PL).

The petroleum products prices will remain effective from 16 to 31 July, 2023.

Dar said Rs9 per liter reduction has been made in petrol prices, while High-Speed Diesel will witness Rs7 slash.

Govt keeps petrol price unchanged, increases rate of high-speed diesel by Rs7.5

After the new rates, petrol price will be 253 rupees per liter instead of 262 rupees per litre. High Speed Diesel price will be 253.50 rupees per liter instead of 260.50 rupees per litre.

Dar said prices of one item witnessed increase while other decline during the last 15 days, however due to PKR appreciation against the dollar, it has been compensated and therefore petroleum products prices were decreased, he added.

Dar further said the rate of Petroleum Development Levy will remain unchanged as one part of it was passed on from July 1, 2023.

Prime Minister Shehbaz Sharif has directed to give maximum relief to consumers and therefore no changes have been made in PL, he added.

Copyright Business Recorder, 2023