Petrol prices likely to fall in Pakistan from Nov 16

ISLAMABAD: Petroleum product prices in Pakistan are expected to change from November 16 for the next fifteen days.

According to sources, an initial summary has been prepared based on global market trends. High-speed diesel may see an increase of Rs 9.60 per liter. Petrol prices are expected to drop by Rs 1.96 per liter, while kerosene may rise by Rs 8.82 per liter and light diesel oil (LDO) by Rs 7.15 per liter.

The Oil & Gas Regulatory Authority (OGRA) will send its working summary to the Petroleum Division on November 15. After that, a joint summary from the Petroleum Division and the Ministry of Finance will be sent to the Prime Minister for approval. Once approved, the Ministry of Finance will officially announce the new prices, which will be effective for the next fifteen days.

Sources say the recent fluctuations in global crude oil prices and the decline in the value of the Pakistani rupee against the US dollar are the main reasons for this possible increase.

Earlier, on November 1, the price of kerosene increased by Rs 3.34 per liter, reaching Rs 185.05 per liter, while light diesel oil saw an increase of Rs 1.22 per liter, raising its price to Rs 163.98 per liter.

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