Government Expected to Slash Petroleum Prices by Rs. 15 to 20

The federal government is expected to give a major relief in the prices of different POL products.

Sources have revealed that Oil and Gas Regulatory Authority (OGRA) has started working on a new summary, which would likely propose a drop of Rs. 15 to 20 in the prices of different POL products.

The government decreased the price of petrol by Rs. 3.05 on 1 August, while the price of High-Speed Diesel (HSD) was increased by Rs. 8.95.

However, since then, the prices of Brent Crude have fallen by more than 7 percent in the international market, while Pakistan Rupee has appreciated by approximately 7 percent against US Dollar. As a result, a major cut is being expected in the price of POL products to provide direct relief to the masses.

Currently, petrol is being sold at Rs. 227.19 per liter, while HSD has a price of Rs. 244.95 per liter.

OGRA is expected to send the summary to the Finance Ministry on 13 August, while new rates could be announced on 15 August after Prime Minister’s approval.

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