Pakistan expects significant decline in petroleum prices

ISALAMABAD: A significant reduction in the price of petroleum products is expected from August 16 in view of the plummeting rates in the international market.

According to sources, a reduction of Rs8 .36 in the price of petrol per litre is expected and the price of diesel may go down by Rs7.70 per liter.

Sources explained that the light diesel price could see a reduction of Rs4.49 while the prices of kerosene oil may be reduced by Rs7.71 per liter.

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The government sources linked the expected reduction in the price of petroleum products to the significant reduction in the price of the commodity in the international market as major economies including China have recorded less demand in the last few weeks.

The expected reshuffle in prices will take place in between the night of August 15 and August 16 as the government will announce the new prices.