Following a marked drop in the prices of crude oil in the international market, a suggestion has been made to pass on the relief emanating from it to the consumers here in Pakistan by slashing the petroleum products (POL) prices, reported 24NewsHD TV channel on Thursday.

Quoting its sources, 24News TV channel reported that the price of London Brent Oil had come down from $78.80 per barrel to $71 per barrel since September 10; hence registering a 10 per cent decrease.

While on the other hand, the US crude oil, they informed, the price of which was $73.55 per barrel dropped to $67.70 per barrel since September 1; thus registering an eight per cent reduction.

There was a suggestion to cut down the price of each liter of petrol by Rs11.71, sources said, adding if approved, one liter of petrol which was now available at Rs259.10 would be available at Rs247.39.  

Likewise, Rs11.91 per liter cut has been suggested in the price of the High-Speed Diesel; if approved, it would cost Rs250.84 per liter rather than Rs262.75 per liter; the rate at which it is currently available.

Similarly, sources explained, there was a proposal to reduce one liter of Kerosene Oil’s price by Rs8.24, while that of light speed diesel by Rs9.86 per liter.

If approved, the new prices would take effect from September 16 for a 15-day period.

Reporter: Ashraf Khan