Another cut in petrol, diesel prices in the offing
Business
petrol and high-speed diesel (HSD) prices are likely to drop by Rs5 and Rs6 per litre
ISLAMABAD (Dunya News) – Another rate cut – the third consecutive – in the petroleum products is in the offing from Sept 1 due to fall in price of crude in the global market.
According to sources, petrol and high-speed diesel (HSD) prices are likely to drop by Rs5 and Rs6 per litre as the international market saw $2 to $2.30 per barrel reduction in the last fortnight.
Sources said that the price of crude oil in the world market has reached $79 a barrel. The OGRA will review global crude oil prices on Aug 30 and send a summary to the finance minister for fixing prices.
Depending on the final exchange rate calculation and existing tax rates, the prices of petrol and HSD are projected to lower by Rs5 to Rs6 per litre.
It may be recalled that the ex-depot petrol price stands at Rs260.96 per litre and HSD at Rs266.07 per litre. In the last pricing review, effective Aug 14, the government reduced the petrol and HSD prices by Rs8.47 and Rs6.70 per litre, respectively.
The total reduction in petrol and HSD prices is Rs14.64 and Rs17.56 per litre, respectively.
