ISLAMABAD (Kashmir English): Pakistanis may soon get some relief at the petrol pumps as global oil prices continue to fall. Petrol prices in Pakistan are expected to be reduced for the next 15 days.
Reports suggest the federal government could slash Petrol prices in Pakistan by up to Rs8.50 per litre in its next fortnightly review.
Petrol prices in Pakistan might see the biggest cut of Rs8.50 per litre, while diesel could become cheaper by nearly Rs6.96 per litre. Other fuels like kerosene oil and light diesel oil may also see significant reductions of around Rs7.50 and Rs7.20 per litre, respectively.
The Oil and Gas Regulatory Authority (OGRA) is finalizing its recommendations today. After reviewing these proposals, the Finance Ministry will make the final decision in consultation with the Prime Minister’s Office.
The officials have the authority to modify final rates through changes to taxation levels and petroleum fees.
The government implemented this measure following its previous initiative to increase petroleum levies and maintain fixed gasoline prices at stations in the previous month. Customers gained respite when electricity rates decreased at that time.
