KARACHI – The prices of petroleum products are likely to go down for the first fortnight of October as the government planned to give a slight relief to the distressed public who are facing record inflation.
Media reports suggest that for the first half of October, the cost of petrol would drop between Rs12-15 per litre amid the comeback of the Pakistani rupee after massive crackdown.
It was reported that the interim government would slash the price of kerosene by Rs8-10 per litre however the final decision will be taken by the Prime Minister.
The expected price drop would be the first decrease in two months, mainly because of the rupee’s appreciation. The prices of petrol were last dropped in July when petrol was reduced by Rs9 per litre to Rs253 and diesel by Rs7 per litre to Rs253.50.
Earlier this month, the caretaker setup announced another hike in the prices of petrol and diesel, taking rates to historic high.
The hike is on top of Rs 32.41 and Rs 38.49 per litre increase in petrol and HSD prices since August 15. The combined increase now works out at Rs 58.43 per litre within a month.
