BR100 3,800 Increased By ▲ 13 (0.33%)
BR30 19,437 Increased By ▲ 63 (0.32%)
KSE100 36,745 Increased By ▲ 127 (0.35%)
KSE30 15,928 Increased By ▲ 27 (0.17%)
COVID-19 TOTAL DAILY
CASES 253,604 0
DEATHS 5,320 0
Sindh 106,622 Cases
Punjab 87,492 Cases
Balochistan 11,192 Cases
Islamabad 14,202 Cases
KP 30,747 Cases

ISLAMABAD: Federal government will likely to cut the petroleum price by Rs 10 per litre or 10 percent for the month of July sources said.

On Friday, federal government announced to increase the price of petrol by Rs 25.58 per liter with effect from June 26 to July 31, 2020 in line with the hike in 112 percent hike in global crude oil prices.

The government claimed that they spread the impact of petroleum product internationally by spreading on 35 days rather than a month. However, the government did not reduced the petroleum levy and general sale tax (GST) but increased the ex-refinery prices of petrol to Rs 45.85 per litre from Rs 23.99 per litre in June 1 or 47 percent increase.

Copyright Business Recorder, 2020