Petrol prices in Pakistan are likely to see another decrease starting from June 1st. Sources indicate that the prices of petrol and diesel are expected to decrease by Rs 5 and Rs 4 per liter, respectively.
Official Announcement Pending
The Ministry of Finance is expected to announce the new prices after consulting with Prime Minister Shehbaz Sharif. The Oil and Gas Regulatory Authority (OGRA) will send a summary for the price reduction to the Petroleum Division by May 31st, sources added.
Previous Price Reduction
Earlier, on May 15, the federal government significantly reduced petrol prices by Rs 15.39 per liter for the subsequent fortnight. This decision came after Prime Minister Shehbaz Sharif’s approval.
New Prices Notification
The notification issued by the Finance Ministry stated that, following the reduction of Rs 15.39, the new petrol prices were fixed at Rs 273.1 per liter.
The price of high-speed diesel (HSD) was decreased by Rs 7.88 to Rs 274.8 per liter.
Furthermore, the price of light diesel was reduced by Rs 7.54 per liter, setting the new price at Rs 161.17 per liter. The price of kerosene oil was also reduced by Rs 9.86 per liter, bringing it down to Rs 173.48 per liter.
The anticipated decrease in fuel prices is expected to provide some relief to consumers. The official announcement from the Ministry of Finance will confirm the new rates, which are likely to be implemented from June 1st.
