In a country where every rupee counts, there’s a ray of hope that could ease the burden on our wallets—petrol prices might soon go down. A new proposal has landed on Prime Minister Shehbaz Sharif’s desk, suggesting a price cut in petrol and diesel, and if approved, it could bring much-needed relief for everyone struggling with high inflation.
The Proposal
So, what’s being proposed? A reduction of Rs. 8.27 per litre for petrol. That would bring the price down from Rs. 255.63 to Rs. 246.36. Diesel users aren’t left out either. A drop of Rs. 6.96 per litre is being considered, reducing the price from Rs. 258.64 to Rs. 251.68. There’s also good news for those using light diesel and kerosene oil, with a Rs. 7.21 per litre cut expected.
Now, before we get too excited—this is still a proposal. The final green light has to come from the Prime Minister, and that decision is expected soon.
Tax & Levies on Petrol Price
Even with these proposed reductions, it’s important to remember why fuel prices are still so high. A big chunk of what we pay at the pump isn’t for the fuel itself. In fact, over Rs. 100 per litre goes into taxes, levies, dealer commissions, and company margins. Just the petroleum levy alone stands at a historic high of Rs. 70 per litre—that’s more than what we used to pay for an entire litre of fuel not too long ago!
To put things into perspective, the actual cost of petrol before taxes (the ex-refinery price) is just Rs. 148.51 per litre, but what we end up paying is Rs. 255.63. For high-speed diesel, the story’s the same—Rs. 154.06 before taxes, Rs. 258.64 after.
So, while a price drop will definitely help lighten the load—especially for those commuting daily or relying on transport for work—it’s also a reminder of how much of the cost is tied up in government charges.
Let’s keep our fingers crossed that the proposed cuts go through. In these tough economic times, even a few rupees off per litre can make a big difference.
