#Inflation -hit masses await respite on #fuel front
#LAHORE (MNP) – With the cheaper #Russian #oil expected to reach #Pakistan in the first week of next month, the coalition government is expected to further slash the #prices of #petroleum #products with effect from June 1, providing another relief to the #poverty -stricken #masses.
The government is expected to announce the move on May 31, as the prices are #revised fortnightly – on 15th and the last day of each month. The expected reduction will follow a decline in the ex-refinery prices of petroleum products.
Experts say the petrol price will be slashed by Rs10 per litre and that of high speed diesel by Rs5 as the ex-refinery rates of petroleum products are witnessing a downward trend – Rs10 to Rs12 for petrol and Rs5 to 6 for diesel. However, the new prices would be set by adjusting the exchange rate difference.
The expected decision will be a great relief for the inflation-hit masses who are experiencing a record price hike for essential commodities, especially food items. And this food inflation is higher for the rural population when compared with the urban.
