The Pakistani federal government is contemplating a reduction in petrol prices for November, in accordance with the declining global oil market and the strengthening of the local currency.
According to reports, the Oil and Gas Regulatory Authority (OGRA) has initiated the formulation of a proposal to lower petroleum product prices. The ultimate decision, following consultations with the caretaker Prime Minister Anwaarul Haq Kakar, will be made by the Petroleum Division on October 31, with the revised prices set to take effect from November 1.
The price of Petrol is expected to decrease by Rs 20 per liter, while the price of high-speed diesel is poised for a Rs 16 per liter cut.
The international oil market has observed a diminishing trend, with British crude oil prices falling below $90 per barrel, while American crude oil prices have dipped below $84 per barrel.
Current Petrol Prices in Pakistan
| Petroleum products | Prices |
|---|---|
| Petrol | 283.30 |
| Diesel | 304 |
