ISLAMABAD: After a recent decrease of Rs 10 to Rs 15 on May 15, the prices of petroleum products in Pakistan are likely to witness another decline from June 1, local media reported on Wednesday.
According to media reports, the prices of petrol and diesel are expected to decrease by Rs 5 and Rs 4 per litre, respectively in line with the recent decline in the international market.
Media reports further stated that the Ministry of Finance would announce the new prices after consultation with Prime Minister Shehbaz Sharif.
The Oil and Gas Regulatory Authority (OGRA) will forward the summary regarding the possible changes to the Petroleum Division by May 31st.
It is worth noting here that in the context of the continuous decrease in prices in the international market, the federal government slashed the prices of petroleum products by Rs10 to Rs15 for the current fortnight.
At present petrol prices stand at Rs 73.1 per litre, whereas high-speed diesel (HSD) are available at Rs 274.8 per litre.
