Petrol price may take a huge plunge in Pakistan

By: News Desk      Published: 06:18 PM, 19 Apr, 2020
Petrol price may take a huge plunge in Pakistan

Amid plummeting international oil prices, the petrol price in Pakistan is expected to take a huge plunge of Rs26.75 per litre this month, reported 24NewsHD TV channel on Sunday.

The Pakistani government has the golden opportunity to reduce the petroleum prices drastically as it bought oil for 28 dollars and 51 cents per barrel this month.

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According to sources in the Petroleum Division, the price of the imported oil is 36 dollars and 33 cents after adding 7 dollars and 82 cents import duty on the purchased oil.

According to the sources, if those transactions are considered keeping in view the local perspective, the per-litre petrol price costs the government 35 rupees and 25 paisas. The actual per-litre price of petrol in the country should be Rs70 after adding Rs35 per-litre tax being charged by the government.

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At the moment, the petrol is being sold Rs97 per litre in the country.

Prime Minister Imran Khan had announced a major decrease in the petroleum prices in March.