Islamabad, October 14: A significant reduction in petroleum prices is expected across Pakistan from October 16, as global oil prices continue to soften and the Pakistani rupee remains relatively stable.
According to sources in the petroleum sector, petrol prices are likely to decrease by around Rs 6.10 per litre, while high-speed diesel (HSD) may see a reduction of approximately Rs 1 per litre. Prices of kerosene oil and light diesel oil (LDO) are also expected to decline by Rs 2.75 and Rs 1.64 per litre, respectively.
The Oil and Gas Regulatory Authority (OGRA) has finalized its price review summary and will submit it to the Petroleum Division for approval. The Ministry of Finance will make the final decision, and the new prices are expected to take effect from midnight on October 16.
This anticipated price relief comes at a time when citizens are struggling with inflation and high living costs. Economic analysts suggest that the reduction could help ease transport expenses and slightly lower inflationary pressures in the coming weeks.
