Petrol per litre, will petrol prices decrease in Pakistan?
Recently petrol prices in international market decreased, after the news break decrease in petrol per litre was expected in Pakistan too but it is 4th continuous day prices remain the same.
Current price of petrol per litre in Pakistan is Rs. 111.60. (March 21, 2020)
Is this price justified in Pakistani market?
Petrol prices have gone down drastically, where all consumers specially business owners were expecting heavy decrease in prices but unfortunately we have not heard any good news so far.
After the decrease of 23% in international market, it was expected that per litre prices in Pakistan will be decreased by pkr 27 but it is still there.
Many petroleum and economic experts suggested that decrease in prices of petrol per litre will not only benefit for businesses but also it will be a great relief to the residents of Pakistan.
More decrease in petrol prices in pakistan:
More recent, oil prices have decreased more to 30% as price war is going on between Russia and Saudi and due to increase in novel virus (covid19) petroleum products’ prices also decreased.
30% decrease in oil price has been recorded as lowest since 1991.
It has been observed by experts that decrease in oil prices will be beneficial for macro economy indicators of Pakistan.
Prime Minister Imran Khan said on prices;
Khan said we will give every possible relief to the people of Pakistan.
He asked special assistant to PM on petroleum to come up with strategy to decrease the prices.
Despite bad decisions of previous government we have to clear our road map to facilitate common man.
As per Radio Pakistan’s website;
During the meeting, PM’s Special Assistant on Petroleum Nadeem Babar briefed the Prime Minister in detail over the price mechanism of petrol, diesel and gas sector, global factors and prospects to reduce the prices and recommendations in this regard.
We are expecting not massive but little relaxation on prices of petrol in Pakistan 2020.
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