Notification Issued for Change in Petroleum Product Prices

Islamabad (Qudrat Daily) — OGRA has announced a change in the prices of petroleum products. According to the notification issued by the Petroleum Division, the price of petrol has been increased by Rs 4.61 while the price of diesel has been reduced by Rs 1.96 per litre. The new price of petrol has been fixed at Rs 393.75 and the price of high-speed diesel at Rs 422.08.

The new prices will take effect from 12 midnight tonight. A significant decrease has been recorded in crude oil prices in the global market, after which the price per barrel has fallen below $100. The price of US crude WTI has decreased by more than 5 percent and it is being sold at approximately $95 per barrel.

The price of British crude Brent recorded a decrease of more than 3.5 percent, after which Brent is trading between $99 and $100 per barrel.

According to the report, the decrease in crude oil prices came due to hopes of diplomatic progress toward ending the Iran war. On the other hand, a proposal has emerged from the government to abolish petroleum levy for one year to stop Jamaat-e-Islami’s long march. According to ARY News, sources say that Jamaat-e-Islami’s super long march is moving forward toward Multan, during which the government has contacted the Jamaat-e-Islami leadership and insisted on stopping the super long march.

It has been reported that Jamaat-e-Islami has presented its stance on this demand that the super long march will continue until the levy is abolished. It is expected that Prime Minister Shahbaz Sharif will also contact the Jamaat-e-Islami leadership regarding the petroleum levy. It is also expected that Jamaat-e-Islami’s march will reach a breakthrough before it reaches Islamabad. The government delegation has assured that Prime Minister Shahbaz Sharif will come on board upon his return to the country, and a meeting with the Jamaat-e-Islami leadership is also expected upon the Prime Minister’s return.