Petroleum product prices likely to fall

Islamabad: The price of petroleum products in the country is likely to decrease.

Crude oil prices in the global market have been trending lower in the last two weeks, as a result of which the prices of petroleum products are expected to decrease in the country from May 1 tomorrow.

According to the sources, the price of petrol is likely to decrease by 5 rupees 4 paise per liter, similarly, the price of diesel may also decrease by 8 rupees per liter. In the announcement made by the government tonight, the price of kerosene is also likely to be reduced by Rs 8.3 paise per litre.

Along with petrol, diesel and kerosene, light diesel oil is also likely to be cheaper by Rs 5.40 per litre.

Oil and Gas Regulatory Authority (OGRA) will send a summary of the reduction in the prices of petroleum products today, but the final decision on the change in the prices of petroleum products will be taken by the Ministry of Finance in consultation with the Prime Minister.