ISLAMABAD: The federal authorities introduced new petrol and diesel costs for the following fortnight, decreasing the costs, ARY Information reported.
As per a notification issued right here, the worth of petrol has been decreased by Re 1 per litre. The brand new value of petrol has been set at 256.13 per litre.
Equally, Excessive-speed diesel has additionally seen a discount of Rs4 per litre, now priced at 263.95 per litre. The speed of sunshine diesel has been decreased by Rs5.25 per litre to 155.81 per litre.
Moreover, the worth of kerosene oil has additionally been decreased by Rs3.20 to Rs171.65 per litre.
That is the primary time this yr that petroleum product costs have decreased, after three consecutive fortnight value will increase.
These adjustments come as a part of common changes in gas costs, that are influenced by worldwide market developments and native financial situations.
Within the worldwide market, oil costs settled down on Friday on prospects for a peace deal between Russia and Ukraine that would ease world provide disruptions by ending sanctions towards Moscow.
Brent futures settled down 28 cents, or 0.37%, at $74.74 a barrel. U.S. West Texas Intermediate (WTI) crude fell 55 cents, or 0.77%, to $70.74.
Learn Extra: Petroleum levy assortment reaches Rs808 billion in 9 months
Earlier, a report stated that the federal authorities collected a whopping Rs808 billion in petroleum levy in the course of the first 9 months of 2024, ARY Information cited sources.
The gathering was made on petrol and high-speed diesel, with the federal government at the moment charging Rs60 per litre on petrol and diesel each, the sources added.
The breakdown of the gathering confirmed that Rs246 billion was collected in the course of the first quarter (January-March), adopted by Rs299 billion within the second quarter (April-June) and Rs261 billion within the third quarter (July-September).
The income generated from the petroleum levy stays with the federal authorities, whereas the Federal Board of Income (FBR) transfers its share to the provinces beneath the Nationwide Finance Fee (NFC) Award.
The petroleum levy assortment is predicted to extend additional by the top of the yr, as knowledge for October-December is but to be launched.