The federal government is expected to reduce petrol prices starting tomorrow, providing much-needed relief to consumers across the country. This anticipated decrease follows a downward trend in global crude oil prices, leading the Oil and Gas Regulatory Authority (OGRA) to recommend a revision in fuel rates.
Expected Reduction in Petrol and Diesel Prices
According to sources, the new petrol price may see a reduction of approximately Rs2.49 per liter. If approved, petrol prices will drop from the current Rs257.13 per liter, easing financial pressure on motorists.
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In addition to petrol, the prices of other petroleum products are also expected to decline:
- High-Speed Diesel: Expected reduction of Rs9.11 per liter, bringing the price down to Rs258.84 per liter.
- Kerosene Oil: Likely to decrease by Rs3.45 per liter.
- Light Diesel: Anticipated cut of Rs5.60 per liter.
Government’s Decision Amid Market Fluctuations
This expected reduction follows a recent increase in fuel prices earlier this month due to global market fluctuations. However, the recent dip in crude oil rates has created an opportunity for the government to pass on cost benefits to the public.
A formal announcement regarding the revised fuel prices is expected soon, with new rates set to take effect at midnight.
