ISLAMABAD: The prices of petrol, diesel, and other petroleum products are expected to decrease from Thursday, with reductions of up to Rs4.50 per litre for the next fortnight, officials said. The adjustment comes in response to fluctuations in the international oil market.
Read More: Petrol, other fuel prices expected to fall from January 16
According to sources, ex-depot prices of petrol and high-speed diesel (HSD) may drop by about Rs4.50 per litre and Rs2.75 per litre, respectively, depending on final calculations. Kerosene and light diesel oil (LDO) prices are also estimated to fall by Rs1.8 and Rs2 per litre, respectively.
Petroleum product prices are expected to be reduced again from January 16, extending relief to consumers following a major cut at the start of the
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Currently, the government’s ex-depot petrol price stands at Rs253.17 per litre, but retail stations sell it above Rs254.40. Petrol is widely used in private transport, rickshaws, two-wheelers, and small vehicles, directly affecting household budgets, particularly for middle- and lower-middle-class families.
The ex-depot price of HSD is Rs257.08 per litre and may drop to around Rs254 per litre on Thursday, although retailers are currently selling it at Rs258 per litre. HSD powers heavy transport vehicles, trains, agricultural machinery, and other engines, making it a key factor in inflation and the cost of essentials, including vegetables and other food items.
Transporters had raised fares during a Rs27 per litre fuel price increase between May and August last year and have not reversed them despite cuts of Rs17 and Rs20 per litre since October.
The government currently levies around Rs100 per litre in taxes on petrol and Rs97 per litre on diesel. Officials said the price adjustments aim to reflect international market trends while balancing domestic fiscal concerns.
Read More: Petrol price slashed by Rs 10.28, diesel by Rs 8.57 for next fortnight
The new rates are expected to remain in effect until January 31, giving consumers temporary relief at the pump amid rising living costs.