Petrol price expected to go down by 0.8 paisas On Saturday Finance Minister Miftah Ismail said that prices of petroleum products would likely go down by (Rs. 0.8) per liter, according to initial numbers.
Talking to a private news channel, the finance minister said that the price of both petrol or diesel cheap by 0.8 paisas per liter, with the statement set to made on Sunday (today).
When asked if the prices decreased subsequent the trend in the international market, the minister stated that Pakistan has to pay a higher premium on the import of petrol and diesel due to its higher default risk which may dispossess consumers of any major relief. Furthermore, he said that the devaluation of the local currency is also a factor.
It is relevant to mention here that under the fortnightly review of petroleum prices, the government had to notify revised prices on September 16.
The finance minister said that the Changing in petrol prices delayed as Prime Minister Shehbaz Sharif was not in the country.
At the last periodical review, the government hike the prices of all petroleum products even with a Low in international oil prices.