Petroleum prices likely to decrease
Lahore, 27th May: A relief for the public crushed by the inflation may come in the form of a decrease in the prices of petroleum products.
According to Baaghi TV, from next month, the prices of petroleum products may go down by another Rs 10 per liter.
There are reports that the price of petrol is expected to be reduced by Rs 5 to 10 while the price of diesel is likely to be reduced by up to Rs 2. The government has not yet issued a statement.
A summary is sent to the Ministry of Finance with suggestions from the Oil and Gas Regulatory Authority (OGRA) for adjusting the prices of petroleum products.
Petrol, Diesel Prices See Big Hike Today
The final decision on fluctuations in the prices of petroleum products is taken at a cabinet meeting chaired by the Prime Minister, which takes effect from the first of next month.
The government had reduced oil prices by Rs 15 to 30 for the month of May. The price of high-speed diesel was reduced by Rs 27 per liter to Rs 80.25 per liter.
It should be noted that worldwide, crude oil prices were at historic lows. Even before the cuts were made, critics said the government was going to take further action.
Stay tuned to Baaghi TV for more updates!
