Islamabad :
OGRA sources said that the price of crude oil in the global market has come down from 85 85 to 82 82.87 per barrel. According to private TV 24 News, OGRA sources said that the government had fixed oil prices at 85 85 per barrel on November 6, but last week the price of crude oil in the world market remained at 78 78 per barrel. The price of crude oil in the global market has come down to 82 82.87 per barrel.
On which the government can maintain the prices by imposing the existing rates of all taxes if it wants, but if the government abolishes or further reduces the levy tax, consumers can get relief up to Rs 9 per liter on petrol and diesel.
The government is currently levying Rs 9.62 per liter on petrol and Rs 9.14 per liter on diesel. Sources said that OGRA has started working for the revision of prices from November 16 to December 1 and a summary of the revision in oil prices will be sent to the Finance Ministry on November 14.
It may be mentioned that the government had on November 5 increased the levy on petrol and high speed diesel by Rs 4 under the pressure of IMF. The petrol levy has been increased to Rs 9.62 per liter. The new rate of levy has also been applied. According to details, the government has increased the rate of levy on petrol and high speed diesel. The levy on petrol has been increased from Rs 5.62 to Rs 9.62 per liter while the levy on high speed diesel was Rs 5.14 per liter which has been increased from Rs 4 to Rs 9.14 now.
Sources said that the levy on kerosene will be Rs 2.6 per liter while the petroleum levy on light diesel will be zero. The new rate of levy has also been applied. It may be recalled that the present government has increased the prices of petroleum products nine times since the presentation of the federal budget. Petroleum products have been priced up to Rs 37.26 per liter since June 15. Petrol price has been increased by Rs 37.26 per liter, high speed diesel by Rs 31.86 per liter and light diesel by Rs 36.42 per liter. The government has increased the price of kerosene by Rs 36.53 per liter since June 15.
