The prices of petrol and diesel in Pakistan are expected to decrease again from June 1st, according to sources cited by Pakistan Talk Show.
The anticipated reductions are Rs 5 per liter for petrol and Rs 4 per liter for diesel. The Ministry of Finance will announce the new prices after consulting with Prime Minister Shehbaz Sharif. The Oil and Gas Regulatory Authority (OGRA) is expected to send a summary for the price reduction to the Petroleum Division by May 31st.
This follows a previous reduction on May 15, when the federal government slashed petrol prices by Rs 15.39 per liter, bringing the new price to Rs 273.1 per liter. The price of high-speed diesel (HSD) was decreased by Rs 7.88 to Rs 274.8 per liter.
These adjustments come amid recommendations from the International Monetary Fund (IMF) for the Pakistani government to implement an 18 percent General Sales Tax (GST) on various goods, including food, medicine, petroleum products, and stationery. The anticipated decrease in fuel prices is expected to provide some relief to consumers amid economic challenges.