Islamabad: There will be good news for the people who are suffering from inflation, there is a possibility of reduction in the prices of petrol and diesel.
There is a possibility of reduction in the prices of petroleum products by 2 to 3 rupees per liter for the next fortnight from November 1.
The average prices of petrol and high-speed diesel in the global market have decreased by about 1.5 dollars and 2.5 dollars per barrel. According to current tax rates and exchange rate, petrol and diesel prices may decrease by Rs 3 and Rs 2 30 paise per litre.
In the global market, the average price of petrol per barrel rose to $76 against $77.5, while the price of high-speed diesel fell to $84 per barrel from $86.5.
During the current 15 days, the import premium on both petrol and diesel remained stable at $8.7 and $5 per barrel.
It should be noted that at present the ex-depot price of petrol is Rs 247 3 paise per liter and the ex-depot price of diesel is Rs 251 29 paise per litre.