Petrol price likely to decrease by Rs5, diesel by Rs15 from Oct 1
The price of petrol is likely to decrease by Rs5 and diesel by Rs15 from October 01 due to a sharp decline in rates of POL in international markets, according to industry sources.
The petroleum industry sources confirmed that, the price of diesel is expected to decrease by Rs15 per litre from October 1, while the price of petrol may decrease by Rs5 per litre.
Sources said that new price would be calculated on the basis of the fuel rate in the international markets till September 29.
“If the government will not increase petroleum levy as per IMF demand, then POL price will reduce,” sources added.
In the wee hours of September 21, The PML-N led federal coalition government increased the petrol price by Rs1.45 to Rs237.43 per litre in a bid to fulfill International Monetary Funds (IMF) demand.
The official procedure is that the notification of revised prices is issued around 12 midnight, but that time the notification was issued by the finance division at around 2am after a delay of 2 hours.