After Pakistani Prime Minister Shehbaz Sharif returns to Pakistan from Uzbekistan today (Saturday), the federal government is anticipated to announce new fuel product prices. Every two weeks, Pakistan examines the cost of fuel products. According to reports, the Finance Ministry has been informed by the Prime Minister’s Office about the release of the POL pricing.
Additionally, sources noted that in its summary given to the finance division, the Oil and Gas Regulatory Authority (OGRA) did not suggest lowering the cost of gasoline and diesel. Instead, a minor price hike for POL is more plausible. The POL pricing final decision is anticipated to be made today.
Because of the delay in the notification, gas stations have ceased purchasing gasoline goods, which could cause scarcity. The cost of gasoline was set to decrease from Rs235.98 per liter to Rs226.36 per liter following a reduction of Rs9.62 per liter over the following two weeks. Nevertheless, a marginal price increase of Rs3.04 per liter is anticipated for diesel, bringing the price for the specified period from Rs247.26 per liter to Rs250.30.
According to sources, proprietors of gas stations have stopped buying petroleum goods because of these rumors. It was discovered that the price of gasoline has not yet changed since Prime Minister Shehbaz Sharif has not yet issued any directives. According to sources with knowledge of the situation, the prime minister has the power to approve adjustments to the price of petroleum goods.
However, PM Shehbaz was present at the Council of Heads of State (CHS) summit of the Shanghai Cooperation Organization (SCO), where he also met with Recep Tayyip Erdogan of Turkey and Vladimir Putin of Russia. The release of the new rates will wait until the prime minister makes a decision regarding the summary that was given to him “sources asserted.
