Islamabad (HRNW)- A major reduction in the prices of petroleum products is expected across the country from January 16. According to sources, the price of petrol is expected to be reduced by Rs 4.59 per liter, while the price of high-speed diesel is expected to be reduced by Rs 2.70 per liter.
Similarly, the price of kerosene oil is expected to be reduced by Rs 1.82 per liter and the price of light diesel oil by Rs 2.08 per liter. The change in the prices of petroleum products will be made after the approval of the Prime Minister.
Sources say that there has been a significant reduction in the prices of petrol and diesel in the global market, the effects of which are also likely to be felt at the local level. The price of petrol per barrel in the global market was recorded to decrease by $ 2.74 cents, after which the price of petrol decreased from $ 69.27 per barrel to $ 66.54 per barrel.
Similarly, the petrol premium has also decreased by 13 cents per barrel, after which the premium has decreased from $5.14 cents to $5.01 cents. A decrease of 72 paise was recorded in the customs duty per liter on petrol, while the exchange adjustment has decreased by 68 paise per liter.
According to sources, the ex-refinery price of petrol has decreased by a total of Rs6.51 per liter, after which the price has decreased from Rs145.57 to Rs139.06 per liter.
On the other hand, a decrease has also been seen in the global price of high-speed diesel. The price of diesel per barrel has decreased by $2.33 cents to $76.32 from $76.32 to $73.99 per barrel. A decrease of 80 paise in the customs duty per barrel on diesel and 35 paise per liter in the exchange adjustment has been recorded.
According to sources, the ex-refinery price of diesel has been reduced by Rs 5.33 per liter, after which the price has come down from Rs 155.33 to Rs 149.99 per liter.
According to experts, if the Prime Minister approves, the public will directly benefit from this reduction in the prices of petroleum products.
Support independent and credible journalism by contributing here:
https://www.hrnww.com/donate-us/
