Fuel prices are adjusted after every 15 days in Pakistan. OGRA, the Oil and Gas regulatory authority submits a new summary for new fuel prices and the government has the right to approve or dis approve. This time again OGRA has submitted a new summary about the changes in fuel prices. Will petrol prices decrease this week or not? Let’s find out!
As Pakistan is a not an oil producing country and only produces a very limited quantity of crude oil, it has to rely on importing crude oil from Arab countries. The international market oil prices, dollar rate and other things cause a great impact on the per liter petrol price in Pakistan. Though the all time high fuel prices have reduced the sales of fuel as per year to date ratio. Still almost every vehicle needs petrol or other form of fuel to run.
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As per the media and other international reports, the international fuel prices have decreased by 5.5$ per barrel in global oil market. This translates to a huge relief in Pak rupees if the petrol prices are calculated correctly with the intention of passing the relief to end consumers. Previously the government has declined two such opportunities and kept the petrol prices same.
Currently petrol is being sold for 281.34 rupees per liter and if the things are calculated correctly, the new petrol prices should be at least 13 to 15 rupees less. The petrol prices should decrease to provide a solid relief to end consumers but it seems to be a far cry as this may not be possible. Let’s see what happens this time.
What do you think of the up coming petrol prices? Do you think that they will reduce fuel prices? Let is know in the comments below!