Once more, media reports indicate that petrol prices will drop over the next two weeks. According to reports, the cost of petrol may drop by Rs. 7 per liter, while the cost of diesel may fall by Rs. 10 per liter.
The Oil and Gas Regulatory Authority (OGRA) has recommended lowering fuel prices in a summary that was sent to the government. After discussing the suggestions with the Pakistani Prime Minister, the Finance Minister will declare a reduction.
Current Petrol Prices In Pakistan
On April 30, the federal government kept the price of gasoline unchanged. Ishaq Dar, the finance minister, announced an Rs. 10/liter decrease in each of the prices for kerosene oil and light diesel oil (LDO) during a televised statement. Following the declaration of the new fuel prices in Pakistan, effective May 1 through May 15, are:
- The price of petrol stayed the same at Rs. 282/liter.
- High-Speed Diesel (HSD) is now available for Rs. 288 per liter as opposed to the previous Rs. 293/liter after a reduction of Rs. 5.
- The cost of kerosene oil dropped by Rs. 10. Because of this, the new price is Rs. 176.07 as opposed to the previous price of Rs. 186.07.
- LDO also noted a price drop of Rs. 10/liter, bringing the cost down to Rs. 164.68 from Rs. 174.68.
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Recently, the topic of gasoline prices has been widely discussed, and the cause is a significant rise in inflation. Even the current administration’s scheme to introduce a low-cost gasoline program appears to be nothing more than a pipe dream.
Keep in mind that the government proposed the project to subsidize petrol for riders of motorcycles, rickshaw drivers, and vehicles with engines up to 800 cc. According to the proposal, the government would charge drivers of cars with engines larger than 800 cc an additional 75 rupees per liter, with the money going toward supporting middle-class and lower-middle-class members of society.
What are your thoughts on the upcoming drop in gas prices? Please share your opinions in the comments section.