Petrol Prices Expected to Drop by Rs8.50 Per Litre in Pakistan
The federal government is likely to reduce petroleum product prices in the coming days, following a significant drop in global crude oil rates. This decision could bring much-needed relief to both households and businesses across the country.
Petrol Price May See Rs8.50 Per Litre Cut
Sources suggest that the price of petrol is expected to fall by Rs8.50 per litre. This potential reduction aligns with the downward trend in international crude oil prices and reflects the government’s efforts to ease the burden on consumers.
High-Speed Diesel and Other Fuels to Follow
Alongside petrol, high-speed diesel prices are projected to decrease by approximately Rs6.96 per litre. The price cut will likely extend to other petroleum products as well:
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Kerosene oil: Likely to drop by Rs7.47 per litre
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Light diesel oil: Expected to reduce by Rs7.21 per litre
These reductions could help lower transportation and manufacturing costs, positively impacting overall inflation.
OGRA Proposals Await Government Approval
The Oil and Gas Regulatory Authority (OGRA) has submitted its final recommendations to the federal government. The Ministry of Finance will issue an official notification after consultations with the Prime Minister, finalizing the new prices.
Government May Adjust Prices Based on Levies
Despite the expected cuts, government officials have the option to modify the rates through adjustments in petroleum levies or taxes. Last month, the government opted to maintain fuel prices, instead offering relief via reduced electricity rates.
Conclusion
If approved, the expected decrease in petrol and diesel prices will offer significant financial relief to the public. With fluctuating global oil prices and tax adjustments in play, consumers are advised to stay updated on official government announcements for the latest fuel rates.