Significant reduction in Petroleum price in Pakistan
Shares
In the upcoming fortnightly review, there are strong indications that the prices of petroleum products will experience a noteworthy reduction, set to take effect on October 1. According to insider reports, the anticipated adjustments may see a decrease of Rs15 per litre for petrol, Rs10 per litre for high-speed diesel, and Rs8 per litre for kerosene.
The potential relief in petroleum product prices stems from recent hints by a government minister suggesting a forthcoming decline in petrol prices, attributed in part to the appreciation of the rupee.
However, it's important to note that the ultimate decision regarding these price adjustments will be made by Caretaker Prime Minister Anwaarul Haq Kakar, in close consultation with the Ministry of Finance.
Caretaker Information Minister Murtaza Solangi, in a statement made on September 23, shed light on the strategies employed to achieve this reduction. He emphasized that effective measures had successfully lowered the value of the dollar, resulting in a remarkable reduction of approximately Rs35. This reduction in the dollar's value played a crucial role in enabling the government to secure petrol at a lower cost, ultimately benefiting consumers.
In summary, the forthcoming fortnightly review promises potential relief in petroleum product prices, with significant reductions expected for petrol, high-speed diesel, and kerosene. This optimism has been fueled by hints from government officials, emphasizing the role of the strengthening rupee and effective measures in achieving these price adjustments.
However, the final decision rests in the hands of Caretaker Prime Minister Anwaarul Haq Kakar, who will collaborate closely with the Ministry of Finance to determine the extent of these reductions.
