Oil and Gas Regulatory Authority (OGRA) has sent a summary to the Ministry of Energy recommending a reduction of Rs 5-10 in petrol prices. As the start of 2020 fuel prices are increased but due to lockdown in the country fuel prices is decreased gradually. On March 25, the federal government reduced the price of petrol by Rs 15 per liter, saying it would maintain that level for three months or even lower. On April 28, petrol prices in Pakistan were expected to fall by Rs 27 per liter from May 1.
The cut in oil prices led to a drop in global oil prices as the Coronavirus epidemic revealed a massive rise in oil prices as industries around the world shut down industries. The finance minister added that a new budget, the Corona Budget, would be presented in the first week of June and would help businesses recover their profits and decrease the petrol prices in June.
|Fuel Type||Current Prices||Expected in June|
|High Speed Diesel||81.58/Ltr|
OGRA has forwarded the summary to the Ministry of Energy (Petroleum Division) and will then send the document to the Ministry of Finance for approval.
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