The federal government has room to cut petrol and diesel prices after multiple increases over the past couple of months, according to brokerage house Arif Habib Limited (AHL).
According to AHL, the government can cut the price of petrol by Rs. 6.82 per liter and the price of high-speed diesel by Rs. 1.68 per liter at the upcoming fortnightly review of petroleum prices.
If the prices are indeed cut as per the estimate, the price of petrol will come down to Rs. 265.33 per liter with diesel coming down to Rs. 282.67 per liter.
The current price of petrol is Rs. 272.15 per liter while the price of high-speed diesel is Rs. 284.35 per liter.
The price of petrol and diesel were Rs. 253.63 and Rs. 254.64 per liter respectively on June 1 but have risen multiple times since then. This means that the price of petrol is currently Rs. 18.52 per liter more expensive than it was on June 1.