Petrol Price in Pakistan: Petrol Price to be reduced by Rs 7 per litre from June 1

Petrol Price in Pakistan: Oil & Gas Regulatory Authority (Ogra) on Friday submitted a summary to the Petroleum Division recommending that the petroleum products should be decreased from June 1st.

As per details, the regulatory authority has forwarded a summary to the Petroleum Division suggesting a cut of at least Rs 7 per litre. The summary also recommended increasing the price of diesel by 5 paisas.

OGRA has recommended reducing the price of Kerosene oil by 11 Rs 88 paisas per litre. The Ministry for Finance will consider the recommendations of the Ogra on today (Saturday).

The new prices will be implemented from June 1st 2020.

Also read: Petrol price is lower in Pakistan than South Asia: PM Imran Khan

Petrol Price In Pakistan

The (OGRA) Oil and Gas Regulatory Authority is the authority to regulate the operations of petroleum products and gas. It also regulates Petrol Prices in Pakistan. Petroleum Prices in Pakistan are changed on a monthly basis due to the change in rate in the international market.

Petrol Rate in Pakistan depends on various factors which include; economic conditions, global transformation in oil and gas, political instability and etc.

International Market

The sustained plunge in global oil prices has brought deep, unexpected shifts on the geopolitical landscape, with impacts, felt in the Arctic and the Middle East, and in the fortunes of the American heartland and the future of the Russian-Chinese strategic alliance.

Analysts say there is no way the U.S. and its international position will avoid alterations from the oil markets, no matter who sits in the White House for the next four years.