ISLAMABAD: After a significant drop in the prices of petroleum products in the local market, there is a possibility of a major drop in the prices of petrol and diesel in Pakistan at the beginning of the new year.
The price of petrol in the global market has come down from $75.50 per barrel to $69.73, which has recorded a decrease of $5.32 per barrel.
According to sources, due to exchange adjustment and reduction in customs duty, the ex-refinery price of petrol has also seen a clear decrease and this price has been recorded from Rs156.66 per liter to Rs145.66 per liter, that is, a decrease of about Rs11 per liter.
Similarly, a decrease has also been observed in the global price of diesel, after which the price of diesel per barrel has decreased from $84.27 to $79.92. As a result of this decrease, the ex-refinery price of diesel has also been recorded by Rs9.57 per liter.
Considering the decline in the global market, it is likely that the prices of petroleum products in Pakistan may also be significantly reduced on the occasion of the New Year. Sources say that OGRA will send its working paper on prices to the government on December 31, after which the government will take a final decision keeping in mind the revenue requirements.
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