Major reduction in petroleum product prices in the country

There is a trend of decreasing crude oil prices in the global market, due to which there is a possibility of a major reduction in the per liter prices of petroleum products in Pakistan for the next 15 days.

According to the report, sources say that Brent crude oil has reached the level of $ 64.71 per barrel in the global market, due to which petroleum products are likely to become cheaper by Rs 8 to 10 per liter.

Sources say that the government currently imposes a levy of Rs 70 per liter on petrol and diesel.In view of the continuous decline in the prices of petroleum products in the global market, consideration is being given to increasing the GST rate.

The government had also changed the prices of electricity on March 31 instead of reducing the prices of petroleum products.