The government has directed the country's oil marketing corporations to give consumers with respite from the ever-increasing prices of petrol and diesel. As a result, Petrol and diesel prices are unlikely to rise in the next days.
According to a media report, if worldwide crude oil prices do not decline and prices continue to increase, the government may lower excise charge on fuel and diesel. Aside from that, the federal government has requested that all state governments lower the Value-added tax (VAT) paid on petrol and diesel.
Previously, the federal government declared a reduction in excise duty on November 3, 2021, and several states announced a reduction in VAT. Following that, the price of petrol and diesel remained steady for four and a half months.
However, eleven days after the five state elections, fuel and diesel prices began to rise, and prices have risen by Rs 10 in the previous 16 days.
People have received some respite, though, because there has been no increase in prices today.
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