In good news for already inflation-hit people, the Oil and Gas Regulatory Authority (OGRA) has sent a summary to the government for lowering prices of petroleum products for the next fortnight.
According to sources, OGRA's proposal aims to lower the price of petrol to Rs38.49 rupees per litre and diesel to Rs21 per litre, potentially alleviating the financial burden on consumers.
The Ministry of Finance, vested with the authority to adjust prices, will be determining the new rates for petroleum products tonight.
Sources suggest that if the government refrains from imposing additional taxes on petroleum products, the public could witness substantial relief from the current economic challenges.
Current prices
Presently, petrol is retailing at Rs324 rupees per litre, while diesel is priced at Rs319 per litre in Pakistan.
In recent days, international markets have seen a trend of declining petroleum product prices, raising expectations of a potential reduction in prices within Pakistan.
This development is anticipated to have a positive impact on the cost of living for the country's residents.
