On april 30,2020 . The federal government gas made a vital reduction in petroleum. The petrol price has been reduced up to RS 15 as the new rate will be RS 81.58 from may 1 ,2020.
Retaining to sharp decline in oil prices in the international market, the authority of oil and gas has recommended to the government to reduce petroleum products.
The governmental body has suggested that the price of disel may be reduced bt Rs 33.94 per liter( or 31.6 percent) , petrol price by Rs 20.68 percent litre , light disel oil by RS 24.57 litre where as Kerosine oil by Rs 44.07 litre.
The new rate of kerosine oil will be RS 47.44 after RS 30 cut and RS 15 reduced on LDO( light disel oil) which will be accessible at RS 47.51 from may 1 ,2020.
According to the details , if government accepts the suggestion of authority, the petrol price will come down from the current RS 96.58 per/ liter to 75.9 per / litre. However disel price will reduce to RS 73.31 litre from RS 107.25 litre. Like wise , the light disel oil price will come down to Rs 37.94 per / litre from present RS 62.51 per/ litre.
Government is also charging 17 percent ( GST ) general sales tax on all the petroleum products.
Due to coronavirus there is excess of oil , as supply is on peak while demand is very low , the price have down this month .
The new prices will take into effect from today ( Thursday) . However the abstract for the revision of the petrol price for the month of May had been sent to the misnitery of energy ( pertroleum) . Soon government would take decision on it.
Author: Abdul Rahman
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