Petroleum Prices Likely to Drop by Up to Rs8.50 Per Litre Amid Global Oil Price Decline

According to reports, the federal government is set to review the Oil and Gas Regulatory Authority (OGRA)’s recommendations today and make a final decision on the revised prices

Islamabad – As global crude oil prices witness a downward trend, petroleum prices in Pakistan are expected to be slashed by up to Rs8.50 per litre from April 16, sources said.

According to reports, the federal government is set to review the Oil and Gas Regulatory Authority (OGRA)’s recommendations today and make a final decision on the revised prices. OGRA is expected to send its final proposals to the government later today, with the Ministry of Finance issuing a notification after consultation with the Prime Minister.

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Sources suggest that petrol prices may go down by Rs8.50 per litre, while high-speed diesel could see a reduction of Rs6.96 per litre. Kerosene oil and light diesel may become cheaper by Rs7.47 and Rs7.21 per litre, respectively.

The government also retains the authority to adjust taxes, which could impact the final prices.

It is worth noting that last month, the government increased the petroleum levy and kept fuel prices unchanged while announcing a relief package on electricity.