Petrol and other fuel prices in Pakistan are expected to decline for the fourth consecutive time from January 16, as reported by local media.
According to local media reports, petrol prices likely to reduce by Rs 4.59 per litre, while high-speed diesel could become cheaper by up to Rs 2.70 per litre.
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Kerosene oil is likely to see a reduction of Rs 1.82 per litre, and light diesel oil may be lowered by up to Rs 2.08 per litre.
Officials stated that the initial work on the latest revision of petroleum product prices has been completed.
The Oil and Gas Regulatory Authority (OGRA) is scheduled to forward its price recommendations to the Petroleum Division on January 15.
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After approval from the Prime Minister, the Petroleum Division will formally announce the revised petrol and diesel prices for consumers across Pakistan.
Earlier this year, the government had introduced a New Year relief measure by reducing petrol prices.
According to an official notification from the Petroleum Division in Islamabad, petrol prices were cut by Rs10.28 per litre, bringing the new rate to Rs253.17 per litre.
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High-speed diesel prices were also revised, with a reduction of Rs8.57 per litre, setting the new diesel rate at Rs257.08 per litre.
The government said the decision was taken as part of its policy to pass on relief to consumers at the start of the New Year, local media reported.
