ISLAMABAD: Fuel prices are expected to go down again. The federal government is likely to announce a decrease in petrol prices by Rs4.50 per litre for the first half of June. The price of high-speed diesel (HSD) is also expected to fall by around Rs4 per litre.

The official announcement of the new prices will be made at midnight on May 31st, 2024.

These prices will be valid with effect from June 1, 2024. International oil prices have fallen significantly.

Petrol price slashed by Rs15.39, HSD’s by Rs7.88

There is still some time before the final prices are set.

There are six more trading days before the next update, so the final price could be slightly different depending on how the global market and exchange rates behave.

The federal government is charging Rs60 per litre petroleum levy (PL) on both petrol and HSD.

The rate of general sales tax (GST) will be applicable at zero.

The government has projected to collect Rs936 billion against a budgeted target of Rs869 billion.

Copyright Business Recorder, 2024