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Petrol prices to witness another decrease from May 15

Over the past month, the price of crude oil in the global market has decreased by 6 dollars per barrel. However, the dollar price remains stable at 278 rupees. The Ministry of Finance will make the final decision on prices after reviewing the Ogra summary on May 15th.

It should be noted that the government reduced petrol prices by 5 rupees 45 paise last time on April 30th when the dollar price in the interbank was 278 rupees and crude oil was 84 dollars per barrel.

Currently, crude oil is priced at 83 dollars per barrel. Towards the end of last year, Brent crude oil prices fell to $73 per barrel, but it rose again to $94 per barrel in October. However, the price has declined by 6 dollars per barrel in recent times. Considering the stable dollar price in Pakistan and the slight decrease in crude oil prices worldwide, analysts predict that petroleum product prices may drop by 8 to 12 rupees per liter.

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