From October 1, lower petrol costs are anticipated
The price of petrol is anticipated to decrease by Rs. 10 per litre and that of diesel by Rs. 17 per litre.
ISLAMABAD Petroleum prices are expected to drop starting tomorrow (Oct. 1) as a result of the Pakistani rupee’s considerable strengthening against the US dollar.
According to sources, there has been a decline in petroleum prices on the global market, and it is hoped that the government will lower the costs to ease the suffering of the people due to inflation.
The cost of fuel is anticipated to decrease by Rs. 10 per litre, and the cost of diesel by Rs.
Following discussions with interim Prime Minister Anwaarul Haq Kakar, the Ministry of Finance would make a final determination regarding the petroleum pricing for the first two weeks of October 2023.
Ogra said what?
The Oil and Gas Regulatory Authority (Ogra) stressed earlier this week that it was important to refrain from making assumptions about petroleum product prices (POL), since these were largely influenced by global market trends and rupee-to-dollar exchange rates.
“International market pricing and the dollar’s exchange rate are the main determinants of petroleum product prices in our nation.
In a news release, Ogra spokesman Imran Ghaznavi stated that “in recent times, we have witnessed a surge in international petroleum prices, while the Dollar-to-Rupee exchange rate has shown improvement.”
He insisted that it was crucial to emphasise that there was still one week before the declaration of new rates. As a result, any conjecture regarding price hikes or decreases at this time could interfere with the efficient operation.
