Pakistan Government is planning to bring Massive drop in petrol prices from 16 May Thursday. It is expected that petrol price will decrease by Rs 13 per liter and diesel price will decrease by Rs 8 to 9.50 per liter. Officials of Ministry of Energy shared the expected drop with media and told that this drop is being predicted because globally prices of oil has dropped. After end of Iran-Israel conflict Middle East is again gaining its stability and that is why tension has reduced and oil prices are expected to drop again.
It should be noted that Government is providing second relief in oil prices during current month. Price of Motor spirit was reduced by Rs 5.45 per liter. Globally petrol prices have decreased by $6.32 per barrel to $99.93 and diesel price is now $4.97 per barrel. New prices are expected to be implemented from 16 May to after approval from Prime Minister and will give some relief to Pakistani People.
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