ISLAMABAD: As the new year begins, consumers may receive further relief as petroleum product prices are likely to be reduced for the third consecutive time. According to sources, prices may fall by up to Rs10.60 per litre from January 1.
Sources said petrol prices are expected to decrease by Rs10.60 per litre, while diesel may become cheaper by up to Rs8.59 per litre. Light diesel oil is likely to see a reduction of Rs6.62 per litre, and kerosene oil may be cut by up to Rs8.92 per litre.
Initial working for a significant reduction in petroleum prices has been completed. The Oil and Gas Regulatory Authority (OGRA) will send its price recommendations to the Petroleum Division on December 31.
After approval from the prime minister, the Petroleum Division will officially announce the new prices. It is worth noting that petroleum products were already made cheaper on December 1 and again on December 16, providing earlier relief to the public.
