ISLAMABAD (Kashmir English): The price of petroleum products is expected to fluctuate for the next 15 days from August 16, under which diesel is likely to become cheaper, while petrol is likely to become more expensive.
According to sources, after the decline in oil prices in the international market, the relevant authorities have proposed a reduction in the price of high-speed diesel by Rs 11.75 per liter. On the contrary, the price of petrol is expected to increase by Rs 1.32 per liter.
A reduction of Rs 6.25 per liter in the price of kerosene and Rs 7.11 per liter in light diesel oil has been recommended.
According to a report by the International Energy Agency, an increase in the excess supply of oil is expected this year and next, after which crude oil futures have reached a two-month low of $ 62.7 per barrel.
Sources say that if these proposals are approved, the current price of high-speed diesel will be reduced from Rs 282.83 to Rs 274.08 per liter.
