ISLAMABAD (92 News) – The prices of petroleum products are likely to be slashed from the next month of September.
According to sources, the petrol prices by Rs5 per litre, high speed diesel Rs7 per litre are likely to reduce in the next month of September.
It was reported that Oil and Gas Regulatory Authority (OGRA) has prepared the summary and a summary to decrease the petrol prices by Rs5 per litre, diesel Rs7 per litre.
Sources said that the Oil and Gas Regulatory Authority (OGRA) has prepared the summary. The summary will be sent to Finance and Petroleum Ministries.
Prime Minister Imran Khan will take the final decision and approve the summary.
Earlier, Advisor to Prime Minister on Finance Dr Abdul Hafeez Sheikh
hinted at the prices of petrol and petroleum products (POL) may go down next month.
He further says the country’s economy is getting improvements in the light of steps being taken by the government.
In the previous month, on the recommendation of the Oil and Gas Regulatory Authority (OGRA), the government has increased the price of petrol by Rs5.15 per liter.
After the increase, the petrol price has risen to Rs117.83 per liter from Rs112.68.
Moreover, the high-speed diesel price has been raised by Rs5.65 per liter. Now it will be sold at Rs132.47. The price of light diesel has been fixed at Rs90.52 per liter.
On the other hand, the per liter price of kerosene oil has been increased by Rs5.38. Now it will be available at Rs103.84 per liter.
The OGRA has calculated ex-refinery sale prices of petroleum products at the standard 17% GST. Average price of crude oil imported by Pakistan State Oil (PSO) in previous three months (April-June 2019) is $65 per barrel.
In its outlook for 2019-20, the World Bank has forecast that crude oil prices will hover around $67 per barrel.