The federal government is likely to reduce petrol prices starting tomorrow, bringing relief to consumers across the country. This anticipated decrease comes as global crude oil prices have shown a downward trend, prompting the Oil and Gas Regulatory Authority (OGRA) to recommend a revision in fuel rates.
Sources indicate that the new petrol price may see a reduction of approximately Rs2.49 per liter. If the proposal is approved, petrol prices will drop from the current Rs257.13 per liter, offering some financial ease to motorists.
In addition to petrol, the prices of other petroleum products are also expected to decrease. High-speed diesel could see a significant cut of around Rs9.11 per liter, which would lower its price to Rs258.84 per liter. Kerosene oil and light diesel are also likely to become cheaper by Rs3.45 and Rs5.60 per liter, respectively.
The expected reduction follows a recent fuel price hike earlier this month, when petrol and diesel prices were increased due to global market fluctuations. However, the latest downward trend in crude oil rates has provided an opportunity for the government to pass on the benefits to the public.
A formal announcement regarding the revised fuel prices is expected soon, with new rates set to take effect at midnight.
