The price of petroleum in Pakistan is expected to be further slashed by Rs 5 to Rs 8 per litre due to the reduction in price of petroleum in the international market.
According to the Oil and Gas Regularity Authority (OGRA), price of crude oil has decreased to $57.81 per barrel in the international market whereas further decrease is also expected.
The new reduced prices are expected to be applicable after January 1, 2015.
It is worth mentioning here that in November, petrol prices were slashed from Rs 94.19 per litre to Rs 84.53 per litre in Pakistan.
The govt. should reduce the price to Rs. 80 and pocket the remaining difference for budgetary purposes.
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