Petrol Prices in Pakistan Expected to Drop from October 16

Petrol prices in Pakistan are likely to come down starting October 16, bringing a bit of relief to consumers already burdened by rising living costs. According to a report by ARY News, which quoted well-placed sources, the government is expected to announce a noticeable decrease in fuel rates in its upcoming price review.

As per initial estimates, the price of petrol may be reduced by Rs6.10 per litre, while high-speed diesel (HSD) might get a smaller cut of Rs0.97 per litre. Similarly, kerosene oil could see a decline of Rs2.75 per litre, and light diesel oil (LDO) is expected to become cheaper by around Rs1.64 per litre. These reductions, although modest, are likely to provide some relief to households and the transport sector, both of which are heavily affected by fuel prices.

Sources said that these new calculations were made after carefully analyzing recent global oil market trends, which have shown a gradual decline in crude oil prices. The Oil and Gas Regulatory Authority (OGRA) has prepared a detailed summary based on this data and is expected to send it to the Petroleum Division for review.

Once the Petroleum Division reviews the proposal, it will be forwarded to the Ministry of Finance, which will then send its final recommendations to the Prime Minister. After his approval, the revised petroleum prices will officially come into effect from October 16, according to sources familiar with the matter.

It’s worth mentioning that just two weeks earlier, on October 1, the government had increased fuel prices. The Finance Ministry raised petrol prices by Rs4.07 per litre and high-speed diesel by Rs4.04 per litre, citing global market pressures and a weaker Pakistani rupee as the main reasons behind the hike.

In addition to fuel price adjustments, OGRA recently announced a reduction in liquefied petroleum gas (LPG) prices for October. As per the latest notification, the price of a domestic LPG cylinder has been reduced by Rs79.14, bringing it down from Rs2,527 to Rs2,448.

These expected price cuts in petroleum and LPG are seen as a small but welcome relief for citizens who have been struggling with rising inflation, especially in food and transport costs. However, experts believe the situation remains uncertain. They warn that future fuel prices in Pakistan will continue to fluctuate depending on international oil rates, exchange rate movements, and government tax policies.

For now, many Pakistanis are hoping that this upcoming fuel price reduction will not only lower transportation costs but also help ease the overall inflationary pressure on basic goods and services across the country.

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