ISLAMABAD: During 2015, crude oil prices fell 37%, however government brought down prices of diesel and gasoline by approximately 10%. Crude oil price dropped from 59 dollar to 37 dollar in international market and it was the lowest level of price in 8 years.
Crude oil prices have not reduced in Pakistan as per the prices in international market. Government dropped the petrol prices from Rs. 84.53 to Rs. 76.26 per liter while the diesel prices brought were down from Rs. 94 to Rs. 84 per liter.
According to an estimate, government is charging taxes of Rs. 25 per liter on petrol and Rs. 33 on per liter of diesel.
Experts said that if government does not increase taxes rates on petroleum’s products, petrol and diesel prices could be reduced approximately by Rs. 15 per liter.