Prices of local petroleum products likely to decrease after crude oil prices decline in global market.
Offering some release to people, the prices of local petroleum products are likely to drop by Rs15 per liter as crude oil prices decrease in the global market.
After Gasoline prices peaked at a record high of $5.02 in June 2022, the price of US retail gasoline fell below $4 per gallon for the first time in months.
Oil and Gas Regulatory Authority (Ogra) has started working on the prices of petroleum products and the price of diesel is likely to drop by Rs. 15 per liter while the petrol price is likely to decrease by Rs. 12 per liter.
The new petroleum prices would be announced on August 15 as Ogra will send the final summary to the finance ministry on August 13.
