ISLAMABAD — Petroleum product prices in the country are likely to drop from May 1, 2023.
Reports in local media indicate that starting on May 1, the cost of gasoline would drop by 4.5 rupees a litre.
According reports, there would be a Rs 6 per litre decrease in the price of diesel.
In the last fortnight review, the price of petrol was raised by Rs10 per litre by the federal government “in the wake of the increase in petroleum prices in the international market and exchange rate variations.”
Petrol subsidy for bike owners
The government subsidy plan to make petrol cheaper for two-wheelers and hatchback vehicles has hit a roadblock as dealers are not confident to participate. Several other factors are also blocking the implementation of the subsidy.
The government is also trying not to irk IMF as global lender earlier expressed reserves over the cheap petrol.
