The federal government may lower the price of petrol by a great deal to Rs9 a litre from on June 16—a welcome move for those affected by inflation.
According to information from oil marketing companies (OMCs), there is anticipated to be a reduction of Rs4 per litre in the price of diesel and a potential reduction of Rs2 per litre in the price of kerosene oil.
On June 13 and 14, the Oil and Gas Regulatory Authority (Ogra) will determine the final price, which will be based on worldwide petroleum pricing.
After assessing the impact on local customers of shifting international energy market costs and the rupee-dollar parity, the nation adjusts petrol prices every two weeks.
Pakistan imports over 85% of its oil needs, and the nation has been dealing with a balance of payments issue as well as rapidly rising inflation.
If authorized, the price of petrol will decrease from the present rate of Rs268.36 per litre to Rs259.36 per litre. High-speed diesel, on the other hand, will now retail for Rs266.22 per liter as opposed to Rs270.22.
On May 31, the federal government lowered the price of petrol and diesel by Rs4.74 and Rs3.86, respectively.
In the meantime, for the next fiscal year, which begins on July 1, the government has suggested raising the petroleum development levy (PDL) from Rs60 to Rs80. According to Finance Minister Muhammad Aurangzeb, the increase would happen gradually rather than all at once.
