Petrol price expected to decrease by Rs13 per litre

In a bid to give relief to the inflation-hit masses, the government is expected to slash the price of petroleum products for the next fortnight, sources within the industry said on Monday.

The government adjusts the prices of petroleum products every 15 days based on the recommendations of the Oil and Gas Regulatory Authority (OGRA).

Well-placed sources said the price of petrol is likely to be refused by Rs13 per litre, while Rs9 per litre reduction is expected in diesel price.

PM Shehbaz-led setup will decrease the prices due to the massive drop in the commodity in the international markets, sources added.

In the last fortnight review, the government had reduced the price of petrol and diesel Rs5.45 per litre and  Rs8.42 per litre, respectively.

The current prices of petrol and diesel are Rs288.49 per litre and Rs281.96 per litre, respectively.

The Ministry of Finance will announce the new prices on the night of May 15 after consulting with Prime Minister Shehbaz Sharif.