Petroleum prices likely to go down

By: News Desk      Published: 12:38 PM, 27 Nov, 2021
Petroleum prices likely to go down
File photo.

There is a strong possibility of a healthy cut in prices of the petroleum products in Pakistan by month-end as the international rates have registered a 15 percent drop, reported 24NewsHD TV channel.

The Oil and Gas Regulatory Authority (OGRA) has started working to determine the petroleum prices for the next fortnight. 

The price of crude oil in the international brunt market has dropped to $72.72 per barrel while in WTI market its rate is 68 dollars per barrel.

Sources in Ogra have divulged that now there is no reason to maintain the petroleum prices in the country after the 15 percent slide in international rates.

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The Ogra sources maintained that the petroleum prices can be decreased even after receiving all taxes.

The Ogra will forward the summary regarding petroleum prices to the government on November 29 (Monday), which will be made public on December 1.

Reporter Awais Kiani