The price of petrol in Pakistan may decrease by Rs 40 per liter this week.

ISLAMABAD – Petroleum prices in Pakistan are likely to see a significant decline in the upcoming weekly review as global oil markets reacted positively to the news of a ceasefire between the US and Iran. This is according to official and industry sources.

Reports say that the sharp drop in international crude oil prices has raised the possibility of a substantial drop in fuel prices in Pakistan.

He proposed to reduce the prices of petrol and diesel by more than Rs 40 per litre.

However, petroleum division officials said that no final work has yet been prepared regarding the proposed price revision.

Although discussions are ongoing ahead of the next weekly price adjustment, no final decision has been made yet. The Petroleum Division is evaluating several proposals before making recommendations under the official pricing mechanism.

Officials added that Prime Minister Shehbaz Sharif is keen to ensure that any benefit from the fall in global prices is passed on directly to the people.

Government sources further said that the final decision will be taken according to the fixed pricing formula, after which the new fuel prices will be formally announced. He further said that the expected decrease will probably be announced by the Prime Minister himself.

The post Pakistan is likely to reduce the price of petrol by 40 rupees per liter this week appeared first on Daily Pakistan English News.

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