Due to a decline in global crude oil prices, petroleum product prices in Pakistan are expected to drop by up to Rs 8.50 per liter.
According to reports, the federal government will make a decision today after reviewing the recommendations of OGRA (Oil and Gas Regulatory Authority). The price of petrol may decrease by Rs 8.50 per liter starting April 16. Additionally, high-speed diesel is likely to be reduced by up to Rs 6.96 per liter for the next 15 days.
Further expected reductions include:
– Kerosene oil: up to Rs 7.47 per liter
– Light diesel oil: up to Rs 7.21 per liter
OGRA is set to send its final pricing proposals to the government today. The Ministry of Finance will issue a notification on the new prices after consultation with the Prime Minister.
Sources also indicate that the government may revise OGRA’s recommendations by adjusting taxes and levies.
It is worth noting that in March, the government had increased the petroleum levy and kept petroleum prices unchanged while announcing relief on electricity tariffs.
