Petrol prices likely to drop in Pakistan from Jan 16 – check new rates

ISLAMABAD: Petrol and other fuel prices in Pakistan are expected to decrease again from January 16, marking the fourth consecutive reduction, according to reports citing official sources.

Sources say the price of petrol may be reduced by up to Rs4.59 per litre, while high-speed diesel could become cheaper by Rs2.70 per litre.

In addition, kerosene oil prices are likely to go down by Rs1.82 per litre, and light diesel oil may see a cut of up to Rs2.08 per litre.

Officials said that the initial calculations for the price reduction have been completed. The Oil and Gas Regulatory Authority (OGRA) will send its price recommendations to the Petroleum Division on January 15.

After approval from the prime minister, the Petroleum Division will officially announce the new fuel prices for consumers.

Earlier this month, the government also announced a New Year relief for the public by reducing fuel prices. According to an official notification, petrol prices were cut by Rs10.28 per litre, fixing the new rate at Rs253.17 per litre.

Similarly, the price of high-speed diesel was reduced by Rs8.57 per litre, bringing the new diesel price to Rs257.08 per litre.

The government said these steps were taken to provide relief to consumers and reduce the burden of rising living costs.

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