Oil prices to be reduced by Rs5.45 per liter
Prices of petroleum products could decrease further by Rs5.45 per liter from March 1. According to sources, petrol price could go down by Rs4.61 per liter, high speed diesel Rs5, high octane Rs5.45, keronese oil Rs4.72 and price of light speed diesel is likely to reduce by Rs5.10 per liter.
Sources further told that fall in petroleum prices will be witnessed due to Pakistan's recent agreements but prices could go up from April if tax ratio remained unchanged. On the contrary, price of Arab Light Crude Oil increased by $7 per barrel from January 1, thus, the petroleum and finance ministries of Pakistan have opposed reduction in prices from March 1.