ISLAMABAD: Petrol and other fuel prices in Pakistan are expected to decline for the fourth consecutive time from January 16, according to a report by ARY News citing official sources.
Sources revealed that petrol prices may be reduced by up to Rs4.59 per litre, while high-speed diesel (HSD) is likely to see a cut of up to Rs2.70 per litre. Kerosene oil prices are expected to drop by Rs1.82 per litre, whereas light diesel oil (LDO) could become cheaper by up to Rs2.08 per litre.
Officials said the preliminary calculations for the downward revision in petroleum product prices have been finalized. The Oil and Gas Regulatory Authority (OGRA) is scheduled to send its price recommendations to the Petroleum Division on January 15.
After approval from the prime minister, the Petroleum Division will officially announce the revised fuel prices for consumers across the country.
Earlier, the federal government announced a significant reduction in petrol prices as part of a New Year relief package. According to a notification issued by the Petroleum Division in Islamabad, petrol prices were slashed by Rs10.28 per litre, bringing the new rate down to Rs253.17 per litre.
Similarly, high-speed diesel prices were reduced by Rs8.57 per litre, fixing the new price at Rs257.08 per litre. The government stated that the move was aimed at providing relief to consumers at the start of the New Year.
