Petrol Price Hike Likely Tonight
Due to fluctuations in crude oil prices in the global market, the price of petrol in Pakistan may change.
According to reports, the Ministry of Finance will announce new prices on the night of May 15 in light of OGRA’s recommendations.
On January 20 this year, the price of crude oil was $82 per barrel, which decreased to $62 on May 1. However, after a slight improvement recently, this price has reached $65.76 per barrel.
According to media reports, initial estimates were that the price of petrol could decrease by 2 to 3 rupees per liter,
But economists say that during the last 15 days, the price of crude oil has increased by more than $3, and the value of the dollar has increased by Rs1.37, so a slight increase is more likely than a decrease in the price of petrol.
It should be remembered that on April 30, the government had reduced the price of petrol by Rs 2 per liter, when the dollar was worth Rs 280.60, while now its price has reached Rs 281.97.
The final decision is expected tonight and the eyes of the public are fixed on the government’s announcement.
