ISLAMABAD: Fuel prices in Pakistan are likely to decrease from October 16, according to the report on Tuesday, citing reliable sources.
According to the report, petrol prices may drop by Rs6.10 per litre, while the rate of high-speed diesel could be reduced by Rs0.97 per litre. The price of kerosene oil is expected to go down by Rs2.75 per litre, and light diesel oil may become cheaper by Rs1.64 per litre.
These preliminary estimates have been prepared based on the current trends in the international oil market. The Oil and Gas Regulatory Authority (OGRA) is expected to send its detailed pricing summary to the Petroleum Division on Wednesday.
Once reviewed, the Petroleum Division and the Ministry of Finance will forward their recommendations to the prime minister for final approval. The revised fuel prices will take effect from October 16, sources confirmed.
Earlier, on October 1, the federal government had announced an increase in fuel prices for the first half of the month. Petrol was raised by Rs4.07 per litre, and high-speed diesel by Rs4.04 per litre, according to a notification issued by the Ministry of Finance.
Separately, OGRA had reduced liquefied petroleum gas (LPG) prices for October, cutting the cost of a domestic cylinder by Rs79.14, from Rs2,527 to Rs2,448.