A substantial decrease in petroleum product prices is expected from mid-February, as industry experts have submitted their working report to the Oil and Gas Regulatory Authority (OGRA).
The price adjustment will align with fluctuations in global crude oil rates. According to the industry’s projections, high-speed diesel (HSD) may see a reduction of up to Rs. 9.11 per liter, while petrol prices could drop by Rs. 2.50 per liter. Additionally, kerosene oil is expected to become Rs. 3.45 per liter cheaper, and light diesel oil (LDO) may see a reduction of Rs. 5.60 per liter.
OGRA will finalize its recommendations based on international market trends and submit them to the government on February 15. The final decision will be made by Prime Minister Shehbaz Sharif, following which the Ministry of Finance will issue an official notification, setting the prices for the next 15 days.
Consumers are eagerly awaiting the price cut, which is expected to provide much-needed relief amid inflationary pressures.
