KARACHI – Petrol prices in Pakistan are likely to drop as the government has decided to pass on the relief, in light of the strengthening of the local currency against the dollar.
Amid the speculations about the petrol prices, interim Information Minister Murtaza Solangi hinted at slashing petrol prices in next fortnight as local currency gained massively against the greenback.
Speaking with journalists at Karachi Press Club, Solangi mentioned wide chances that petrol prices will come down for the first half of next month.
He mentioned the upward trend of local currency behind the drop in fuel prices, commending the administrative measures taken by the caretaker government.
Earlier this month, Kakar led interim government approved a huge increase in petrol and diesel prices after making tall claims of providing relief to the inflation-hit people. A staggering increase of Rs26.2 per litre was made on petrol while diesel was jacked up by Rs17.34 per litre.
In a month’s time, the price of basic commodity was increased by nearly Rs60 per litre.
