Sources state that a reduction of Rs 5 and Rs 4 per liter is anticipated in the pricing of gasoline and diesel, respectively.
The Prime Minister will be consulted before the Ministry of Finance announces the new prices, according to sources.
The Petroleum Division will receive the Oil and Gas Regulatory Authority (OGRA) summary of the price cut by May 31st, according to additional sources.
The federal government reduced the price of gasoline by Rs15.39 per liter for the upcoming two weeks earlier on May 15.
Details indicate that the Finance Ministry lowered petroleum product prices with the assent of Prime Minister Shehbaz Sharif.
Read more:Petrol Price Drops by Rs8 per Litre, While Diesel Remains Unchanged
A statement stated that the new petrol prices were fixed at Rs 273.1 per litre, down from Rs 15.39 previously. High-speed diesel (HSD) now costs Rs 274.8 per litre, a reduction of Rs 7.88.
While the price of kerosene oil dropped by Rs 9.86 per liter to Rs 173.48 per liter, the price of light diesel decreased by Rs 7.54 per liter to Rs 161.17 per liter.
It is important to note that the International Monetary Fund (IMF) advised Pakistan’s government to impose an 18% General Sales Tax (GST) on groceries, medications, petroleum products, and office supplies.