The federal government plans to decrease petrol prices for the next 15 days because of changes in global oil prices.
Petrol prices might drop by Rs 2 to Rs 3.5 per litre. If that happens, petrol could cost around Rs 249.30 per litre. Diesel prices may fall by Rs 7 per litre, bringing the new diesel rate to nearly Rs 250 per litre.
The Oil and Gas Regulatory Authority (OGRA) hasn’t made any official announcements yet. However, the Ministry of Finance will decide after discussing it with Prime Minister Shehbaz Sharif. OGRA will send a summary of the price change to the Prime Minister for approval. Once he approves it, the Ministry of Finance will issue a formal notification.
Over the last 15 days, international petrol and diesel prices dropped by $1.5 to $3 per barrel. This decline in global prices is the reason behind the expected reduction in Pakistan.
Read more: Petrol Prices are Expected to Drop by Rs12 from April 16
On April 30, the government had already cut fuel prices by Rs 2 per litre. At that time, petrol cost Rs 252.63 per litre and diesel was Rs 256.64 per litre.
New updates now suggest that petrol may go down by Rs 3.5 per litre and diesel by Rs 7 per litre. This expected cut aims to lower the financial burden on people across the country.
Earlier, the government had announced a petrol price cut of Rs 2 per litre, reducing it to Rs 252.63. High-speed diesel also got a Rs 2 reduction, bringing the price to Rs 256.64 per litre.
These changes aim to pass on the benefit of cheaper global oil rates to the public and make fuel more affordable.
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