Petrol prices set to drop from October 16

New petroleum prices will come into effect from Thursday

Petrol prices in Pakistan are expected to drop from October 16, with reductions expected to remain in effect for the next 15 days.

According to the preliminary calculations, petrol may fall by Rs6.10 per litre, while high-speed diesel (HSD) could see a minor cut of Rs0.97 per litre. Kerosene oil and light diesel oil are expected to decrease by Rs2.75 and Rs1.64 per litre, respectively.

Read: Petrol prices likely to rise from Oct 1

The petroleum industry has completed its calculations and submitted them to the Oil and Gas Regulatory Authority (OGRA). OGRA is expected to send a detailed summary of the proposed revisions to the Petroleum Division this evening.

Following consultation with the Prime Minister, the Ministry of Finance will give the final approval, and the revised petroleum prices will come into effect from Thursday.

On October 1, the federal government approved a significant hike in petroleum prices, with petrol rising by Rs1.97 per litre and high-speed diesel (HSD) by Rs2.48 per litre.

Light diesel oil (LDO) increased by Rs1.76 per litre, while kerosene oil saw the steepest jump of Rs4.65 per litre.