Massive Drop in Petroleum Price Expected from 1st November in Pakistan
According to reports from international media, there has been a recent drop of $5 per barrel in global crude oil prices. This decrease is expected to have a notable impact on petroleum product prices in Pakistan, starting November 1st.
In the upcoming month, it is foreseen that petrol prices may witness a reduction of 15 to 20 Pakistani Rupees per liter. Additionally, the price of high-speed diesel is anticipated to decrease by 10 to 16 Pakistani Rupees per liter. The prices of light diesel oil and kerosene oil are also slated to decrease from the beginning of November. The Oil and Gas Regulatory Authority (OGRA) has already formulated an initial proposal regarding these changes in petroleum product prices.
The proposed price adjustments will be submitted to the Petroleum Division by October 31st, after which it will be forwarded to the Ministry of Petroleum and the Ministry of Finance. Following this, the final decision on the prices will be made by the Prime Minister's Advisor, Anwar ul Haq Kakar.
It's worth noting that on October 16th, the per-liter price of petrol was reduced by 40 Pakistani Rupees, and diesel also saw a reduction of 15 Rupees per liter.
Post a Comment