Update:
According to media reports, OGRA has sent a summary to the government and has suggested the prices of petroleum products for June. Interestingly, it has proposed a hike in the price of a Diesel by 5 paisay and the new price will be PKR80.10 per liter. In the case of Petrol, it has suggested a decrease of PKR 7.06, the new price will be PKR 74.52 per liter, in the case of light diesel it has proposed a decrease of PKR 9.37 and the new price will be PKR 38.14 per liter. Kersone will see a decrease of PKR 11.88 and its new price will be PKR 35.56 per liter.
According to reports, there will be a substantial decrease in the price of petrol with sources stating it could be Rs. 10-15 per liter.
If it happens it will be due to the fall in the price of oil in the international market as the government seeks to provide relief to the people due to the coronavirus situation. As per the details, OGRA is working out the prices based on the imports by PSO at the end of April and start of May.
It is pertinent to point out that at the end of April; the price of oil in the global market had fallen to historic lows amidst the global lockdown.
According to sources, the Ex-Refinery price for June will be slashed by Rs. 15/ltr. While this could help boost the economy due to low import cost it could potentially lead to a severe shortage of petrol. As refineries will find it tough to process crude oil at a high price and then sell refined products such as petrol at a lower price.
It is noteworthy that oil marketing companies will be hesitant to import petrol from the global market as it is more than double the cost of PSO’s import cost.
What do you think? Let us know in the comments below.
petrol sasta hota toh har chez sasti hoti hai lakin yahan toh ulta hora hai. Petrol decreases and flour rates increases. Imran is sleeping like always.
Sarkar kisi bhi govt mein consumer goods prices neechay nai aatein. Aisa tu Musharraf nai karwa saka tha :)
han lakin mushi ne purani sabzi mandi karachi mein relocate karde thi. imran zani playboy karwa sakhta tha relocate sabzi mandi ko?
abay thora thora kia kam karta hai direct 40 pe leke aa. Pata nai Pakistani awam ne kia gunah kiye the jo imran jaise nikamma lazy susht kahil pm milla.
You seems to be a pure Patwari.
Pehly Nawaz Sharif govt ko lao phir 40 par aa jaey ga hameesha ki tarah. Hai na?
I feel blessed to live in an Era where my Quaid Imran Khan is charging ahead and leading the country. Our country can never down under the able leader Leadership of My Quaid Imran Khan.
You will see more good news in the coming days. The looters are gone and blessings are upon us now.
Allah is blessing Pakistan because of Imran Khan. Imran Khan will become a part of History Books as one of the greatest living leader of the 21st century both of the Islamic Ummah and the modern world.
actually imran being zani playboy is already part of history books. Hahahaaha