Big Relief! Petrol May Drop By Rs 8, Diesel By Rs 12
Islamabad: Chairman OMPA Tariq Wazir Ali has announced the good news that the price of petrol is expected to decrease by Rs 8 and the price of diesel by Rs 12 per liter.
Speaking on Nadeem Malik Live, Tariq Wazir Ali said that all oil marketing companies (OMCs) purchase oil from oil refineries and the amount of material taken is paid for.
However, this time all refineries have suggested to OGRA that the oil procurement system be changed.
He explained that if an OMC does not purchase oil according to the allocated quota, it will still have to pay.
Under this new proposal, refineries will be assured that the material they produce will be sold.
Tariq Wazir Ali said that this new system of oil procurement will not directly affect consumers, but the decision to reduce or increase prices will depend on government policy.
He further said that if crude oil prices in the global market decrease further, petroleum products may become cheaper in Pakistan as well, which will provide relief to the people.
