A decrease in petroleum product prices is likely in Pakistan from January 16, following a decline in global crude oil prices.
According to sources, the price of petrol may be reduced by Rs 4.59 per litre, while high-speed diesel is expected to become cheaper by Rs 2.70 per litre. Similarly, the price of kerosene oil may drop by Rs 1.82 per litre, and light diesel oil by Rs 2.08 per litre.
The Oil and Gas Regulatory Authority (OGRA) has completed its working on the proposed price adjustments and is expected to forward its summary to the Petroleum Division on January 14.
After consultations with the Ministry of Finance, the Petroleum Division will issue the final notification regarding revised prices, which is expected to take effect from January 16.
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