A significant reduction in petroleum prices is expected to take effect from February 16, providing relief to consumers. Industry sources suggest that prices may fall by up to Rs9 per liter, driven by global market trends.
According to reports, the price of high-speed diesel could drop by Rs9.11 per liter, while petrol may see a reduction of Rs2.50 per liter. Additionally, kerosene is expected to decrease by Rs3.45 per liter, and light diesel may become cheaper by Rs5.60 per liter.
Proposals regarding these changes have been submitted to the Oil and Gas Regulatory Authority (OGRA), which will present its final recommendations to the government on February 15.
It’s worth noting that in the previous review, the price of high-speed diesel was increased by Rs7 per liter, effective from February 1, while petrol prices also saw an increase of Rs1 per liter for the first half of February 2025.
