ISLAMABAD, Sep 22 (DNA): The government is likely to reduce the prices of petrol by Rs 12 and diesel by Rs 9 after the local currency has gained some lost ground against the US dollar.
The Oil & Gas Regulatory Authority (OGRA) revises the prices of
petroleum products every fortnight and has increased the rates over the
last several months to comply with tough conditionalities imposed by the
International Monetary Fund (IMF) for a package.
The increase in petroleum prices, along with an economic meltdown has
pushed inflation to historic highs in Pakistan.
According to sources, the government is likely to decrease the price of
petrol and high-speed diesel following the rupee’s gains against the
greenback. The US dollar has depreciated by 5% so far from a high of Rs
307.10 in the interbank.
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