Massive cut in petrol prices on cards
12 August, 2024 16:04
Expected petrol price in Pakistan: Fuel rates drop from March 16
The federal government is likely to reduce the prices of petrol and diesel on the occasion of Independence Day.
Sources say that the prices of petroleum products could be slashed up to Rs12 per liter in coming days.
According to initial estimates, the price of petrol is expected to be reduced by Rs9 per liter and the price of high speed diesel are expected to be reduced Rs8.50 per liter.
Sources said that the price of kerosene oil is also expected to decrease by more than Rs12 per liter.
The Oil and Gas Regulatory Authority (OGRA) will finalise the price adjustment and submit its recommendations to the government by August 15.
Finance Minister Muhammad Aurangzeb will take a final decision on the new prices in consultation with Prime Minister Shahbaz Sharif.
After the approval of Shahbaz Sharif, the new prices of petroleum products will be announced on the night of August 15, which will be applicable for 15 days.
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