Prices of petroleum products are expected to drop by at least Rs15-20 in the next 24 hours after a decrease in the cost of an oil barrel was witnessed in the international market.
As of 06:35 am GMT, Brent crude was down at $99.66 a barrel while US Texas Intermediate crude reduced to $96.20.
The per litre price of petroleum in Pakistan is Rs249.40 while that of diesel is Rs276 per litre. The cost of petroleum had increased by over Rs100 by the coalition government while an Rs149 surge was subjected to diesel.
On Tuesday, the premier looked upon the summary by the Ministry of Finance and Petroleum. The summary recommended a decrease in petroleum product prices.
Pakistan Muslim League Nawaz (PML-N) Vice President Maryam Nawaz had also announced during a jalsa in Jhang, that the prices of petrol and diesel will be cut down within the next two days under the approval of Prime Minister Shehbaz Sharif.