Petrol, HSD prices likely to fall
There were fears that the petroleum dealers, most of whom were corrupt and involved in fuel hoarding, would not pass on the full benefit of cross-subsidy to the motorbike owners and demand higher prices. PHOTO: afp
The prices of petroleum products in the country are expected to decrease from August 1.
According to media reports, petrol prices might drop by up to Rs3 per litre, while high-speed diesel (HSD) prices could see a reduction of Rs8.50 per litre.
Additionally, the price of kerosene oil is anticipated to decrease by Rs9.11 per litre due to the decrease in global crude oil prices.
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Sources from the Ministry of Petroleum Division have indicated that the final summary regarding the petroleum prices will be sent to the government by the Oil and Gas Regulatory Authority (OGRA).
Following the prime minister's instructions, the finance minister will announce the new petroleum prices on July 31.