Islamabad: There is a possibility of a decrease in petroleum prices as per the summary submitted by Ogra. The price of petrol may decrease by 5 to 10 rupees per liter. Ogra has sent a summary to the government for the determination of petroleum prices for the next 15 days, recommending a reduction in prices.
Sources state that Ogra’s summary suggests a decrease of 5 to 10 rupees per liter in petrol prices and a decrease of 10 rupees per liter in diesel prices. On the other hand, sources also mention that petrol and diesel prices can remain stable.
In the past 14 days, the price of crude oil in the Brent oil market has remained at a maximum of $76.95 per barrel. There has also been a decrease in the prices of petroleum products over the past one and a half months.
Sources say that the Finance Minister and Ogra will consult with the Prime Minister on the recommendations, and a final decision regarding petroleum prices will be made today. The application of new petroleum prices for the next 15 days will be effective after 12 o’clock at night.
According to the Ministry of Petroleum, crude oil from Russia has arrived in Pakistan, but its impact on prices will not be immediate. The impact of Russian oil will be felt in the coming days when the continuous transmission of Russian crude oil takes place.
