On the back of international oil prices plunging – due to Coronavirus outbreak – Oil and Gas Regulatory Authority (OGRA) has recommended the government to further bring down the petrol price by Rs7, for the month of June. If the summary is approved by the government, the new oil price in the country would stand at Rs75.54.
In the summary Rs5 increase in the price of high-speed diesel has been recommended whereas kerosene oil and light diesel prices are said to be decreased by Rs11.88 and Rs9.37 respectively.
Earlier in May, OGRA had recommended the government to cut down the petrol price by Rs20. The government had however chosen to reduce Rs15 thus bringing the current price i.e. Rs81.58.
Since March, after Coronavirus pandemic affected the international oil demand and plunged the prices, Pakistan has reduced its petroleum products prices thrice, resulting in an Rs35 decrease.