Major Relief Expected as Petroleum Prices Likely to Drop from December 1

ISLAMABAD: In a welcome development for the public, petroleum prices in Pakistan are expected to see a significant reduction from December 1, according to industry sources.

Reports indicate that petrol prices may be reduced by Rs3.75 per litre, while high-speed diesel (HSD) could see a decrease of Rs6.10 per litre. Similarly, the price of kerosene oil is expected to drop by 73 paisa per litre and light diesel oil (LDO) by Rs6.35 per litre.

Sources reveal that the oil industry has completed its calculations regarding the proposed price revisions and submitted the findings to the Oil and Gas Regulatory Authority (OGRA). OGRA is now preparing a summary based on these recommendations, which will be forwarded to the Ministry of Finance tomorrow.

The Ministry of Finance is scheduled to announce the revised petroleum prices on November 30, following consultation with the Prime Minister. The new rates will take effect from December 1 and remain valid for the next 15 days.