The prices of petroleum products in Pakistan are set for a steep fall — up to 57 per cent. Though a decision would be announced in consultation with the International Monetary Fund (IMF) on Thursday. The Oil and Gas Regulatory Authority (Ogra) has worked out up to 57pc cut in various products’ prices. According to an official, Ogra had calculated about Rs20.68 per litre reduction in the prices petrol.
Similarly, a reducton of about Rs33.94 in high speed diesel (HSD) is expected. At present benchmark Brent crude prices have plunged by a massive 30pc to $20 a barrel from about $27 per barrel on March 25. It has tumbled by almost 65pc since February 25.