The price of petroleum products (POL) in the country is expected to drop by up to Rs15 per litre following a significant decline in the price of crude oil in the international market.
Petroleum sector insiders claim that from October 1, 2022, the price of diesel may be decreased by Rs15 per litre and the price of petrol by Rs5.
The sources further said that cut in the POL prices was certain if the petroleum development levy did not increase.
Presently, the prices of crude oil in the international market are the lowest in the last eight months; Brent Crude Oil is available at $86.15 per barrel after drop by $4.31 while the price of WTI crude oil is $78.74 per barrel after a reduction by $4.75.
