Petroleum prices in Pakistan are expected to see a notable reduction for the next fortnight, with rates likely to drop by up to Rs11.85 per litre, as reported on Monday, quoting informed sources.
According to the proposal, the price of high-speed diesel may be cut by Rs11.85 per litre, while petrol is expected to become cheaper by 36 paisas per litre. Kerosene oil could see a decrease of Rs11.70 per litre, and light diesel oil by Rs10.01 per litre.
Sources said the Oil and Gas Regulatory Authority will send its price recommendations to the federal government today. Once approved by the prime minister, the Petroleum Division will officially notify the new rates.
If the proposal is approved, petrol is expected to be priced at Rs263.09 per litre, while high speed diesel may fall to Rs267.80 per litre. Kerosene oil could be sold at Rs181.16 per litre, and light diesel oil at Rs153.76 per litre.
Earlier, on November 30, the federal government announced a reduction in fuel prices to provide relief to the public. At that time, petrol became cheaper by Rs2 per litre, while the price of high speed diesel was reduced by Rs4.79 per litre, bringing its rate to Rs279.65 per litre.