In Islamabad, there are indications that the prices of petroleum products across the country might see a decline. This comes as global crude oil prices have been on a downward trend over the past fortnight.
It’s anticipated that starting from May 1, there could be reductions in petrol, diesel, kerosene, and light diesel oil prices.
Reports suggest that petrol prices could witness a decrease of 5.04 rupees per liter, while diesel might see an 8 rupees per liter drop. Similarly, kerosene prices are expected to go down by approximately 8.3 paise per liter, and light diesel oil prices might dip by 5.40 rupees per liter.
The Oil and Gas Regulatory Authority (OGRA) is set to forward a proposal for these price reductions today. However, the final decision rests with the Ministry of Finance, in consultation with the Prime Minister.