ISLAMABAD: Fuel prices in Pakistan are expected to decrease from October 16, as falling international oil prices create room for domestic relief, sources told ARY News on Tuesday.
According to initial estimates, the price of petrol may be reduced by Rs6.10 per litre, while high-speed diesel (HSD) could see a decrease of Rs0.97 per litre. Similarly, kerosene oil may drop by Rs2.75 per litre, and light diesel oil is likely to become cheaper by Rs1.64 per litre.
The Oil and Gas Regulatory Authority (OGRA) has prepared the initial pricing calculations based on international market trends and is expected to submit its final summary to the Petroleum Division tomorrow.
Final Approval to Be Granted by Prime Minister
Once the Petroleum Division reviews OGRA’s summary, the proposal will be forwarded to the Ministry of Finance (Pakistan) and subsequently to the prime minister for final approval.
If approved, the new prices will be implemented from October 16, providing much-needed relief to consumers already burdened by inflationary pressures.
Recent Price Trends
Earlier, on October 1, the government increased petrol and diesel prices for the fortnight. The petrol price rose by Rs4.07 per litre, while high-speed diesel was increased by Rs4.04 per litre, according to a notification issued by the Finance Ministry.
Meanwhile, OGRA announced a reduction in liquefied petroleum gas (LPG) prices for the month of October. The price of a domestic LPG cylinder was slashed by Rs79.14, bringing it down from Rs2,527 to Rs2,448.
Global Oil Prices Influencing Domestic Rates
Pakistan’s fuel price adjustments are directly linked to fluctuations in the international oil market. The current downward trend is expected to offer some short-term relief at the pump, although future revisions will depend on global price movements and currency exchange rates.
