Islamabad: As a result of a decrease in worldwide crude oil prices. Petroleum product prices in Pakistan are likely to decrease beginning April 1.
According to oil marketing companies’ (OMCs) projections, the price of diesel is predicted to decrease by Rs15-20 per litre. While the price of petrol is anticipated to decrease by Rs4-5 per litre.
Yet, industry sources indicated that it is possible for the Finance Division to maintain the current price.
In its most recent biweekly update, the federal government increased the price of petrol to Rs272 a litre.
The Finance Division ascribed the price increase to the weakening of the Pakistani rupee versus the U.S. dollar as well as an increase in pricing recorded by Platts Singapore.
The price of MS (petrol) increased by 5 rupees per litre, while the price of high-speed diesel climbed by 13 rupees per litre.
By decreasing the government’s dues on it, the increase in the price of kerosene oil was capped at Rs2.56. In a similar manner, the price of light diesel oil was maintained by altering government fees.
The revised prices became effective on March 16 and will be in effect until March 31.
On March 31, the Finance Division will announce the new tariffs that will be in effect for the next two weeks.
