Massive decrease in petroleum prices expected

ISLAMABAD: A massive decrease in petroleum product prices is expected for the next fortnight starting February 16. Working in this regard has been sent to OGRA.

The price cut will be based on the global crude oil market rates.

According to the industry’s calculations, high-speed diesel prices may drop by Rs. 9.11 per liter, while petrol prices could decrease by Rs. 2.50 per liter.

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Similarly, kerosene oil may become cheaper by Rs. 3.45, and light diesel by Rs. 5.60 per liter.

OGRA will send the final working to the government tomorrow, based on global market trends. Prime Minister Shehbaz Sharif will give final approval.

The Finance Ministry will issue a notification for the new prices for the next 15 days.