Web Desk (LTN NEWS): As the price of crude oil has gone down around the world, the prices of local petroleum products are likely to go down by up to Rs15 per liter. This will be a relief to the people.
On Thursday, the average price of gasoline in the US fell below $4 per gallon (3.78 liters) for the first time in months.
The American Automobile Association says that the average price of regular unleaded gas fell to $3.990 per gallon.
In June, gas prices hit an all-time high of $5.02, which hurt drivers’ wallets and made them buy less gas in July than they did during the pandemic in July 2020.
In this way, sources in the Oil and Gas Regulatory Authority (Ogra) said that work has begun on the prices of petroleum products.
They said that lowering the rate of tax on petroleum products could save more than Rs15 per liter.
The price of a liter of petrol is likely to go down by Rs12, and a liter of diesel by Rs15.
Sources say that Ogra will send the final report to the Ministry of Finance on August 13. The new prices for petroleum products will be announced on August 15.
