Petrol and diesel prices likely to see a big reduction from June 20
Published 1 hour ago | By Pak24tv
In view of the strict instructions of the Prime Minister, the government has decided to make a major reduction in the prices of petroleum products in the country.
According to sources, the prices of both petrol and diesel are likely to be reduced by more than Rs 55 per liter from June 20.
According to the working paper of the Petroleum Division, PSO and OGRA, Prime Minister Shehbaz Sharif had directed to reverse the increase made on March 7. After this, the government is trying to find a way to reduce it by more than Rs 55.
After this decision, the price of Arab Light crude oil has decreased by $ 16 in a week to the level of $ 80 per barrel.
On the other hand, there has been a stir among oil companies over the possible reduction and some companies are lobbying for a phased reduction instead of a lump sum reduction of Rs 55.
The benchmark for the prices of petroleum products in Pakistan is Arab Light crude oil.
