According to sources, from March 16, the price of petrol may decrease by Rs15 per litre. High-speed diesel could become Rs11 cheaper per litre, kerosene may drop by Rs10, and light diesel could become Rs7 cheaper per liter across the country.

The expected drop in prices is due to a decrease in global oil prices. The government is considering increasing the petroleum levy because of the significant price reduction. The government is thinking of raising the levy by Rs3 to Rs10 per litre.

Currently, the petroleum levy is Rs60 per liter, and it could go up to Rs70 per litre. The government has the power to raise taxes and impose additional levies. Ogra will send the final calculations to the government today, and Prime Minister Shehbaz Sharif will give the final approval on the petrol prices.