Petroleum prices are expected to drop in Pakistan from October 16. According to sources, the petrol prices may be reduced by Rs6.10 per litre and high-speed diesel by Rs0.97 per litre. The price of kerosene oil is likely to fall by Rs2.75 per litre, while light diesel oil may become cheaper by Rs1.64 per litre. The initial price working has been prepared in view of trends in the international oil market.

The Oil and Gas Regulatory Authority (OGRA) is expected to send its detailed price summary to the Petroleum Division tomorrow. After reviewing the proposal, the Petroleum Division and the Ministry of Finance will forward their recommendations to the prime minister, who will give final approval for the price revision. The new fuel prices will take effect from October 16, sources confirmed. 

Credit: Independent News Pakistan (INP)