Significant Drop Expected in Petroleum Prices in Pakistan
Web Desk
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2 weeks ago
Islamabad – Following a continuous drop in global crude oil prices, a significant reduction in the prices of petroleum products in Pakistan is being anticipated.
According to reports, the price of Brent crude oil has decreased steadily, now reaching $60.12 per barrel. Sources suggest that this may lead to a decrease of up to 12 Pakistani rupees per litre in petroleum prices.
It was revealed that the price of Brent crude oil stood at $74.95 per barrel on April 1st and 2nd. However, since April 2nd, the price has fallen by over $14 per barrel.
Global market trends indicate that a reduction of up to 12 rupees per litre in petroleum prices is possible. Currently, a levy of 70 rupees per litre is imposed on both petrol and diesel.
Sources further mentioned that due to the continuous decline in petroleum prices in the global market, there might be an increase in the GST rate to offset some of the cost reduction.
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