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According to sources, petrol prices in Pakistan are expected to decrease by Rs 5-6 per liter for the next 15 days, starting from September 1. This reduction is primarily attributed to the decline in global oil prices. Global petrol and diesel prices have dropped by $2-2.30 per barrel over the past 15 days, leading to a potential decrease of up to Rs 5 per liter in domestic prices after accounting for exchange rates and existing tax rates.
The average global petrol prices has fallen from $82.50 to $80.40 per barrel, while diesel prices have decreased from $90.30 to $88 per barrel. Currently, the government is collecting approximately Rs 78 per liter in taxes on petrol and diesel, with a general sales tax (GST) of zero on both products. Additionally, the government is levying a customs duty of around Rs 18 per liter on petrol and diesel.