ISLAMABAD: The federal government is likely to reduce the domestic price of petrol by around Rs10 per litre from midnight of Wednesday (Dec 16).
Similarly, the retail price of diesel is expected to be slashed by Rs 8-9/litre, said sources. The government would notify change in petroleum prices around mid-night of Wednesday and new prices will be effective from Dec 16. This significant decline in domestic petroleum prices seems to be the outcome of decline in international crude prices in recent weeks. For example, OPEC crude oil price has dropped to $74/barrel from last month’s $84 per barrel. Pakistan imports crude oil and refined petroleum products from OPEC countries especially Saudi Arabia, Kuwait, UAE, and Qatar, etc. Hence, the benefit of decline in international prices of oil should be passed on to the consumers already hit hard by enlarging inflation and unabated price hike in the country.
The revised prices of petroleum products will come into effect from December 16. If the petroleum prices are reduced significantly from Wednesday midnight, people will certainly feel comfort in prices of some of the essential consumers items having direct link with up and down in petro-prices. The cost of transportation will also decrease throughout the country.
On Nov 30, the government kept the prices of petroleum products unchanged for the December 1-15 period in line with Prime Minister Imran Khan’s decision.
According to official statement, “The petrol price will remain unchanged at Rs145.82 per litre, and the price of diesel will remain Rs142.62 per litre as before.”
“The prices of kerosene oil and light diesel will stay at Rs116.53 and Rs114.07 per litre, respectively.”
