Web desk: A notable cut in petroleum product prices is expected from December 1, with rates projected to fall by up to Rs 6.35 per litre.
According to industry reports, petrol prices may come down by Rs 3.75 per litre, while high-speed diesel could see a reduction of around Rs 6.10 per litre.
Kerosene oil is expected to become cheaper by 73 paisas, and light diesel oil by Rs 6.35 per litre.
The oil industry has completed its calculations for the proposed adjustments and forwarded them to the Oil and Gas Regulatory Authority (OGRA).
Based on these recommendations, OGRA is finalising a summary for revised prices, which will be sent to the Ministry of Finance.
The Ministry of Finance is scheduled to announce the new prices on November 30, and the revised rates will take effect from December 1 for the next 15 days.
According to reports, the ministry will also consult the prime minister before making the final decision.
Petroleum prices in Pakistan are expected to decrease by up to Rs6.50 per litre, according to initial estimates shared by official sources.
The government is preparing a revised price summary for the next review.
Expected Reductions
According to the early calculations:
- Petrol may go down by Rs3.70 per litre
- High-speed diesel may drop by Rs4.28 per litre
- Kerosene may fall by Rs7.30 per litre
- Light diesel oil may decrease by Rs6.35 per litre
Officials say the expected cuts are based on lower global oil prices and reduced import costs.
The final pricing summary will be sent to the government on November 30.
Prime Minister Shehbaz Sharif will make the final decision. If approved, the new prices will be announced in the next fortnightly review.
The expected reduction has raised hopes among consumers facing high inflation.
Current Prices
On November 16, the government kept fuel prices unchanged:
- Kerosene: Rs161.54 per litre
- Petrol: Rs248.38 per litre
- High-speed diesel: Rs255.14 per litre
