Petroleum product prices are expected to decrease further starting June 1, bringing relief to consumers. Sources reveal that petrol prices are set to plummet by Rs5.50 per liter for the next 15 days, down from the current Rs273.10 per liter.
Similarly, diesel prices are expected to dip by Rs 4.30 per liter, kerosene by Rs 2.15 per liter, and light diesel oil (LDO) by Rs 5.08 per liter.
This reduction is credited to the recent global decline in crude oil prices, with authorities committed to passing on these benefits to the public.
On May 31, the Oil and Gas Regulatory Authority (OGRA) will present its calculations to the government based on global market trends.
The final decision on the new prices rests with Prime Minister Shehbaz Sharif, following which the Ministry of Finance will issue an official notification.
This move is expected to ease the financial burden on the public, which has faced soaring fuel costs in recent times.
Moreover, the government's decision on May 15 to slash petrol and high-speed diesel (HSD) prices by Rs 15.39 per liter and Rs 7.88 per liter, respectively, has already provided significant relief to consumers.
With petrol serving as a primary fuel for motor vehicles, particularly in Punjab, and HSD widely used in transport and agriculture, these reductions are poised to positively impact inflation nationwide.
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