Again, media reports are predicting a decrease in petrol prices for next fortnight. As per the reports, the price of petrol can be reduced by Rs. 7 per litre, whereas diesel price can observe a slump of Rs. 10 per litre.
In a summary sent to the government, the Oil and Gas Regulatory Authority (OGRA) has proposed to down the fuel prices. The finance minister will announce a decrease after consulting the recommendations with the Prime Minister of Pakistan.
Current Petrol Prices In Pakistan
Earlier on April 30, the federal government retained the petrol prices. During a televised statement, finance minister Ishaq Dar announced Rs. 10/liter decrease in Kerosene Oil and Light Diesel Oil (LDO) prices each. After the announcement of the new fuel prices in Pakistan, from May 1 to May 15, are:
- Petrol price remained unchanged and stood at Rs. 282/liter.
- High-Speed Diesel (HSD) saw a reduction of Rs. 5 and now stands at Rs. 288 instead of the previous Rs. 293/liter.
- Kerosene Oil’s price was reduced by Rs.10. Hence, the new price is Rs. 176.07 compared to the old rate of Rs. 186.07.
- LDO also observed a slump of Rs. 10/liter taking the price to Rs. 164.68 instead of Rs. 174.68.
The petrol prices have been the talk of the town during the last couple of months, and the reason is a sharp increase in inflation. Even the incumbent government’s plan to launch a cheap petrol scheme looks nothing more than a dream.
Mind you; the government presented the project to subsidize petrol for motorcycle owners, rickshaw drivers, and cars up to 800cc. The proposal revealed that the government would charge Rs. 75/liter extra from car owners above 800cc and will use this amount to subsidize society’s middle-class and lower-middle-class sections.
What do you think about the imminent decrease in petrol prices? Drop your thoughts in the comments section.
