Islamabad: Due to the softening of prices in the international oil market over the past two weeks, new rates of petroleum products are expected to be reduced in Pakistan. OGRA has prepared a draft of prices and started preparing to send it to the Ministry of Finance.
According to initial estimates, petrol may be cheaper by Rs 4.15 and high-speed diesel by Rs 6.50, while the price of light speed diesel is likely to be reduced by Rs 6.35 and kerosene by 75 paise.
According to economic data, petrol was sold at Rs 265.45 per liter in November, while the new price proposed for December may be reduced by Rs 261.70 per liter.
According to energy market analysts, the reduction is “more of an adjustment than a relief.” They say that due to Pakistan’s dependence on imported energy and fluctuations in the value of the dollar, the prices of petroleum products cannot remain stable for long.
According to experts, if oil prices rise again in the global market, another increase may be seen next month.
The Ministry of Finance will announce the new prices on the night of November 30, which will be effective from December 1 to 15.
