Islamabad: It is likely that the people of the country will hear good news as it is expected that petroleum prices will decrease from August 1.
Sources said that a decrease of Rs 9. 93 is likely in the petroluem prices for the first fortnightly of August.
While a difference of an exchange rate of adjustment on petrol and diesel will be included separately.
Adding the exchange rate adjustment the petroleum product prices can be reduced further.
Industry sources said that ex-refinery prices on petrol recorded Rs 9. 93. While ex-refinery price of diesel decreased by Rs 4.69. Industry sources further added that petrol prices reduced by per barrel two dollars and 9 scent.
Sources said that the petrol per barrel price reduced to 73. 19 dollar from 75. 27 dollars.Oil industry sources said that per barrel premium on petrol reduced by 2.87 dollars.
Industry sources furthered that per barrel premium on petrol reduced to 6. 74 dollar from 9.61 dollar.Industry sources adds that a custom duty on petrol also reduced by Rs 1. 3 as the custom duty reduced to Rs 14. 29 from Rs 15. 33.
Industry sources apprised that from behalf of a reduction on exchange rate of Rs 1. 22 recorded.Sources said that petrol ex-refinery price decreased to Rs 157. 58 from Rs 167. 51.
On the other hand, an increase of one dollar 36 scent was recorded in prices of high speed diesel. Industry sources said that similarly diesel prices also increased to 88. 19 dollar from 86. 83 dollar.
Ministry of finance will conduct final working on July 31 which which will decide the matter keeping in mind revenue target.
A notification will be issued by the finance ministry after final approval from the PM.
