Federal Petroleum Minister Ali Pervaiz Malik said that oil refineries have assured the government that they will reduce the price of diesel by more than Rs. 30 to Rs. 32 per liter. OGRA is expected to issue a decision regarding the price reduction soon.
Speaking on Wednesday, Federal Petroleum Minister Ali Pervaiz Malik said that the government fully understands the problems and difficulties faced by the public and is taking every possible step to provide relief.
He said that the government has also provided relief through targeted subsidies and is making every effort to protect the public during the current difficult situation.
Ali Pervaiz Malik said that, on the Prime Minister’s instructions, several meetings were held with oil refineries, during which discussions focused on bringing down the price of diesel significantly.
According to the Federal Petroleum Minister, oil refineries have assured the government of a reduction of more than Rs. 30 to Rs. 32 per liter in the price of diesel, while OGRA will announce its decision on the matter soon.
He further said that the intensification of the war has caused global crude oil prices to rise. Russia, a major diesel-producing country, is also facing difficulties, which has resulted in diesel availability problems in several countries.
He added that although the current situation is difficult, this difficult period will eventually come to an end.
Ali Pervaiz Malik also thanked the oil refineries for their cooperation in the decision to reduce diesel prices.
It may be noted that the government increased the prices of petroleum products a day earlier, raising the price of petrol by Rs. 3.34 per liter and high-speed diesel (HSD) by Rs. 5.27 per liter. Following the increase, the new price of petrol became Rs. 334.54 per liter, while HSD reached Rs. 395.69 per liter.
The Ministry of Petroleum has increased the price of HSD by Rs. 11.74 per liter and petrol by Rs. 9.11 per litre over the course of two days.
