ISLAMABAD (Dunya News) - In what may be a ray of hope for inflation-hit citizens, petroleum prices are likely to drop by up to Rs11 per litre in the upcoming review, according to official sources.
As per initial estimates, petrol may be reduced by 36 paisas per litre, while high-speed diesel is expected to come down by Rs11.85 per litre. Sources added that kerosene oil may see a cut of Rs11.70 per litre, and light diesel could ease by Rs10.01 per litre.
OGRA is expected to send the price summary to the government on December 15. Once the prime minister gives the green light, the Petroleum Division will issue a formal notification.
If the proposed revision goes through, the new petrol price will stand at Rs263.09 per litre. High-speed diesel will cost Rs267.80 per litre. Meanwhile, kerosene oil will be priced at Rs181.16 per litre, and light diesel will settle at Rs153.76 per litre.
For many consumers struggling to make ends meet, the potential reduction could be a breath of fresh air in tough economic times. However, officials say the final prices will depend on global oil trends and exchange rate movements, reminding citizens that price volatility is still part and parcel of the energy market.