The federal government is planning to lower petrol prices in Pakistan starting from May 16, thanks to the decline in global oil prices.
International oil prices dropped by $6.32 per barrel, reaching $99.93, and diesel prices also went down recently.
According to reports, the Oil and Gas Regulatory Authority (Ogra) has recommended reducing petroleum prices to the Finance Division.
It’s anticipated that petrol prices could decrease by Rs13 per liter, while diesel prices might drop by up to Rs9.50 per liter.
Currently, petrol is priced at Rs288.49 per liter, and diesel at Rs281.96 per liter in Pakistan until May 15. However, from May 16, reports suggest petrol could be around Rs275.49 per liter, and diesel around Rs272.46 per liter.
Although Ogra is suggesting these decreases, the final decision rests with the government.
Opinion:
A decrease in petrol prices will certainly bring relief to the public, especially considering the economic challenges many people face. It’s a positive move, and hopefully, it’ll help ease the financial burden on consumers.
