ISLAMABAD: The government gets Rs18.57 on different taxes from the current petrol price of Rs62.13 per litre, Adviser to Prime Minister on Petroleum Dr Asim Hussain said, while announcing details of an oil pricing formula at a press conference here on Sunday. He said the ex-refinery price of petrol was 36.59 per litre.

He said that from the diesel price of Rs62.65 per litre the government was getting Rs16.64 per litre while its ex-refinery price was Rs42.13 per litre.

The adviser said that the ex-refinery price of kerosene oil was Rs39.26, its retail price was Rs59.35 per litre and the governments earned Rs14.19 per litre.

Dr Asim said that the government believed in transparency in the oil pricing mechanism and because of the longstanding demand the earning of the government, oil companies and other segments on petroleum products was being made public.

He said that 16 per cent GST was calculated after adding all factors like dealers’ commission and petroleum levy etc.

When asked why was the GST not calculated on the ex-refinery price, he claimed that changing in the structure of the formula was beyond the authority of the petroleum ministry.

Under the formula, he said, the commission of oil companies was four per cent of the product cost, which was Rs1.35 per litre on diesel and Rs1.60 per litre on petrol, and at the current price level, petrol stations were getting Rs2 per litre on petrol and Rs1.50 per litre on diesel.

It is expected that the price of petrol in August will decline by Rs3 to Rs59.59 per litre mainly because of a decline in the price of crude oil in the international market to $63.83 per barrel.

Based on that trend, the price of diesel will be around ten paisas higher than the current price of Rs62.65 per litre.