ISLAMABAD: Fuel prices in Pakistan are likely to see a decrease starting October 16, according to sources quoted on Tuesday.
As per initial estimates, petrol prices may drop by Rs6.10 per litre, while high-speed diesel (HSD) could see a minor reduction of Rs0.97 per litre. The price of kerosene oil is expected to fall by Rs2.75 per litre, and light diesel oil (LDO) might become cheaper by Rs1.64 per litre.
The Oil and Gas Regulatory Authority (OGRA) has reportedly completed its preliminary price calculations based on global market trends and will submit its detailed summary to the Petroleum Division tomorrow. Following a review, the Petroleum Division and the Ministry of Finance will forward their recommendations to the prime minister, who will make the final decision on the revised fuel prices.
The new rates are scheduled to come into effect from October 16, confirmed sources.
Earlier on October 1, the federal government had increased petrol prices by Rs4.07 per litre and high-speed diesel by Rs4.04 per litre, as per a notification issued by the Ministry of Finance.
Meanwhile, OGRA also announced a reduction in liquefied petroleum gas (LPG) prices for October, cutting the price of a domestic cylinder by Rs79.14 bringing it down from Rs2,527 to Rs2,448.
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