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There is a possibility of reduction in the prices of petrol and diesel in Pakistan due to the decrease in oil prices in the world market.
In the international market, petrol has become cheaper by 1.86 dollars to 107.16 dollars per barrel, while diesel has become cheaper by 4.30 dollars to 104.76 dollars per barrel.
Considering the global market prices, the prices of petroleum products in Pakistan may decrease by 5 to 7 rupees.
A decrease of 74 million dollars in government foreign exchange reserves
On the other hand, the Business Recorder has said in its report that the government is expected to reduce the price of petrol by 4 rupees 88 paise per liter and the price of high speed diesel by 7 rupees 37 paise per liter from 1st to 15th May 2024.
According to the report, the price of kerosene may decrease by Rs. 8.03 paise and the price of light diesel oil by Rs. 5.37 paise per liter.
In case of price reduction, the price of petrol is likely to be Rs 289.06 per liter instead of Rs 293.94, while the new price of high speed diesel is expected to be reduced from Rs 290.38 per liter to Rs 283.01 per litre.
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