Petroleum prices likely to decline from Aug 1

Islamabad: There is a possibility of decline in the prices of petroleum products from August 1.

According to the Oil and Gas Regulatory Authority (OGRA), the price of petrol is likely to decrease by Rs3 per liter, while the price of diesel may decrease by Rs8.50 per liter. The kerosene is also expected to cost less by Rs9.11 per liter.

It is also reported that petroleum prices are likely to decrease due to fall in crude oil price globally, and the progress on the prices of petroleum products is underway.

The media reports suggest that OGRA will send the final summary regarding the prices of petroleum products to the government. The Finance Minister will announce the new prices of petroleum products on July 31 following the instructions of the Prime Minister.