Petrol price likely to go down by Rs20 per litre

The decision to slash the petroleum products prices or maintain the old ones is likely to be made today, reported 24NewsHD TV channel on Tuesday.

The final decision will be taken by Caretaker Prime Minister Anwaarul Haq Kakar. Profits of the oil companies and dealers are likely to be increased, informed sources have said.

It is to be noted here that reports about the fall in the petroleum products prices have been in the news for the past many days.

According to the media reports, a Rs15 to Rs20 per litre fall in the petrol price is likely while a Rs10 to Rs16 per litre fall in the price of high-speed diesel is likely.

Also, the prices of light diesel oil and kerosene oil will likely to be slashed.

The Oil and Gas Regulatory Authority (Ogra) has prepared the preliminary draft of petroleum product prices.

It was earlier stated that the final summary of the reduction in prices of petroleum products would be sent to the Petroleum Division on October 31, 2023.

The Petroleum and Finance ministries will amend the summary and send it to the caretaker prime minister who will decide the final prices.