Petrol, diesel prices likely to drop in Pakistan

ISLAMABAD: The federal government is expected to reduce petrol prices for the next 15 days due to fluctuations in global oil prices, providing relief to consumers, ARY News reported.

According to reports, the Oil and Gas Regulatory Authority (OGRA) has not yet issued official confirmation, sources suggest that petrol prices may drop by Rs 2 to Rs 3.5 per litre, potentially bringing the new price to approximately Rs 249.30 per litre.

Diesel prices are likely to decrease by Rs 7 per litre, setting the new rate at around Rs 250 per litre.

The final decision will be made following consultations between the Ministry of Finance and Prime Minister Shehbaz Sharif.

OGRA will submit a summary of the proposed adjustments to the Prime Minister for approval. Once approved, the Ministry of Finance will issue an official notification.

In the past 15 days, international petrol and diesel prices have fallen by $1.5 to $3 per barrel, prompting the expected price adjustment in Pakistan.

Previously, on April 30, the government reduced petrol and diesel prices by Rs 2 per litre, setting petrol at Rs 252.63 per litre and diesel at Rs 256.64 per litre.

According to recent reports, petrol prices in Pakistan are likely to drop by Rs 3.5 per litre, while diesel may see a reduction of Rs 7 per litre. This anticipated decrease aims to provide much-needed financial relief to consumers across the country.

Earlier, the government announced a reduction in petrol prices, providing much-needed relief to the public.

According to reports, a notification has been issued confirming a decrease in the price of petrol by Rs 2 per litre.

The new petrol prices will now be Rs 252.63 per litre, down from the previous rate. Along with this, high-speed diesel prices have also been cut, with a decrease of Rs 2 per litre. The new price for high-speed diesel is Rs 256.64 per litre.