Petrol price likely to decrease from May 15
Petrol price likely to decrease from May 15
Prime Minister Shehbaz Sharif has indicated a further reduction in petrol prices; it is good news for the people suffering from inflation that there is a possibility of further reduction in petrol and diesel prices from May 15. Prime Minister Shehbaz Sharif said in his statement that we have succeeded in reducing inflation to a great extent; inflation is at the lowest level in the last two years. In the previous 16 months, we have supported the economy, and the caretaker government has done a good job, and we are continuing to do so now.
He further said that the rate of inflation was earlier 39 per cent, but now it has come down to 17 per cent and will come down further in the future. The reduction in inflation will give relief to the people, and the country’s economy will also improve. The Prime Minister further said that the decrease in the prices of petroleum products will also provide relief to the people. For the last several days, the global market has been recording a continuous decline in oil prices due to various reasons. And the prices are likely to fall further in the next few days.
This is the reason why the government has made petrol cheaper by 5.45 rupees and diesel by 8.42 rupees on May 1. Prime Minister Shehbaz Sharif has also given strict instructions to the provincial governments to convey the fruits of a reduction in petrol prices to the people. And food prices should be reduced. Now it is to be seen whether the Prime Minister will reduce the prices of petrol on May 15 or not because the IMF delegation is also coming to Pakistan on May 15, and the IMF has set a condition to impose more levy tax on petrol and diesel. If possible, the government will have to maintain the price of gasoline. But this is unlikely because the prices of petroleum products in the global market are falling rapidly, which is why the government will have to make petrol and diesel cheaper.
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