Starting April 16, petrol prices in Pakistan are expected to go down by as much as Rs8.50 per litre, bringing much-needed relief to the public. This price drop comes at a time when crude oil prices are falling around the world, making it possible for local fuel rates to be reduced as well.
Sources from the Ministry of Petroleum have shared that not only petrol, but other fuels may also see a significant decrease in price. High-speed diesel could be reduced by around Rs6.96 per litre, while the price of kerosene might drop by Rs7.47 per litre. Light diesel oil may also become cheaper, with a possible cut of Rs7.21 per litre.
The oil industry has already sent its suggestions for the new fuel prices to the Oil and Gas Regulatory Authority (OGRA). OGRA is now reviewing these proposals and is expected to submit its final recommendations to the government by April 15.
After receiving OGRA’s suggestions, the Ministry of Finance will hold discussions with the Prime Minister before officially announcing the new prices. During this process, the government may also consider making changes to fuel taxes, which could affect the final prices.
If approved, these reductions will help ease the financial burden on people across the country, especially those who rely on fuel for daily transport and business operations. This development could also positively impact the overall economy by lowering transportation and production costs.
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