Petroleum Prices Likely to Drop in Pakistan from January 16

Islamabad: Following a decline in global crude oil prices, Pakistan is also expected to witness a reduction in petroleum product prices starting January 16.

According to sources, petroleum prices may decrease by up to Rs 4.59 per liter, offering partial relief to consumers.

Petrol prices are likely to drop by Rs 4.59 per liter, while high-speed diesel may see a reduction of Rs 2.70 per liter.

Similarly, kerosene oil prices are expected to decline by Rs 1.82 per liter, and light diesel oil by Rs 2.08 per liter.

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Sources said that the Oil and Gas Regulatory Authority (OGRA) has completed its working on the proposed price adjustments.

OGRA is expected to forward the pricing summary to the Petroleum Division on January 14.

Following consultations with the Ministry of Finance, the Petroleum Division will issue a notification announcing the revised prices, effective from January 16.