After a major reduction in international Prices of crude oil prices, the petrol price in Pakistan is likely to reduce from 1st April.
According to estimates of oil marketing companies (OMCs), the price of diesel is likely to decline by Rs15-20 per litre while the price of petrol is expected to go down by Rs4-5 per litre.
According to sources in the industry said that there is a possibility that the Finance Division keeps the price unchanged.
Earlier this month Federal Government drop the petrol bomb by jacking up the prices of petroleum products by up to Rs13 per litre with immediate effects. After which the new price of petrol is Rs272 per litre.
The major impact of the hike in prices was mainly because of about Rs16 per dollar average depreciation over the last fortnight, i.e. since 1st March. The ex-depot price of petrol has now been fixed at Rs272 per litre for the next fortnight instead of Rs267 per litre, up by Rs5 or 1.9pc. Likewise, the ex-depot price of HSD has now reached Rs293 per litre from Rs280, up by 4.6pc.
The ex-depot price of kerosene has increased by Rs2.56 (1.4pc) per litre to Rs190.29 from Rs187.73, and that of LDO was kept unchanged at Rs184.68 per litre.
Remember that The new prices came into effect on 16th March and will remain in place till 31st March.
The Finance Division will announce the news rates on 31st March which will remain in place for the next 15 days.