Last Updated on: 26th June 2023, 08:49 am
The Price Of Petrol is Expected To Fall By Rs10 Per Liter
Petroleum product prices are expected to fall from 16th May as the coalition government plans to bring some relief to the desperate public-facing record inflation amid the worst of the economic crises.
Local media reports suggest that petrol costs will be reduced by Rs. 10 per liter by the second half of May 2023.
The Oil and Gas Regulatory Agency (OGRA) has reportedly proposed a reduction in the price of petroleum derivatives. In light of the reports, the price of petrol could be reduced by Rs. 10 per liter, while the price of diesel is likely to be reduced by Rs. 8 per liter.
While OGRA has sent a summary to the government, Finance Minister Ishaq Dar and other officials will consult Prime Minister Shehbaz Sharif on the recommendations and the final decision will be announced today.
The new prices for oil derivatives for the next two weeks will apply from midnight on May 15th.
Earlier this month, the federal government announced a 5 rupee per liter cut in the price of diesel, while the price of petrol remains unchanged. Currently, petrol is Rs. 282, HSD Rs. 288, kerosene oil Rs. 176.07, and light diesel fuel Rs. 164.68 per liter.
Also Read: Petrol Price in Pakistan Expected To Increase From 16th April