ISLAMABAD (Dunya News) - The prices of petrol and high-speed diesel (HSD) are likely to drop by Rs11 to Rs12 per litre each for the next fortnight, following decline in prices globally.
Sources said petrol price was expected to be slashed by Rs11, HSD Rs12, light diesel Rs13.76 and kerosene oil Rs7.
The HSD is a major source to energise the heavy vehicles like, trains, trucks, buses, tractors, agricultural engines, tubewells, and threshers. It also contributes to decide the prices of vegetable, fruits and other commodities.
On Oct 31, the government had kept the petrol and HSD prices unchanged.
During the last two weeks, the prices of diesel at the global level reached $95 per barrel and prices of petrol remained between $81 and $86 per barrel. Likewise, price of crude oil in the Brent oil market remained at $74 per barrel.
The ex-refinery price of diesel is Rs179.69 paisa per litre and petrol price is Rs170.73 per litre.
The caretaker finance minister will announce new prices after having consultation with caretaker Prime Minister Anwarul Haq Kakar. The summary for reduction in the petroleum products' prices will be sent to the government shortly.