Islamabad: After the fall in oil prices in the global market, the public in Pakistan is also likely to get relief in the form of petroleum products. According to sources, the price of high-speed diesel is expected to decrease by Rs 12 per liter from August 16, while petrol may become cheaper by Rs 1 per liter.
In addition, the price of kerosene is likely to decrease by Rs 6 and light diesel oil by Rs 7 per liter. The Oil and Gas Regulatory Authority (OGRA) will send a summary of the price revision to the Finance Ministry on August 15, which will include global prices, import costs and local market trends.
The Finance Ministry will issue a formal notification after the approval of the Prime Minister, after which the new prices will be applicable from August 16 to August 31. Experts say that the global crude oil shortage is certainly a temporary relief for Pakistan, but it also has an impact on transportation and other sectors of inflation.