Islamabad: There is good news for Pakistani consumers as the government is likely to reduce prices of petroleum products once again, marking the fourth consecutive relief for the public.
According to official sources, prices of petroleum products are expected to be revised downward from January 16, providing further relief at the start of the new year.
Sources said that petrol prices may be reduced by up to Rs4.59 per litre, while high-speed diesel is expected to become cheaper by Rs2.70 per litre.
In addition, kerosene oil may see a reduction of Rs1.82 per litre, while light diesel oil is likely to be cut by Rs2.08 per litre.
Officials said that the initial working on the revised prices has been completed. The Oil and Gas Regulatory Authority (Ogra) will forward its recommendations to the Petroleum Division on January 15.
After approval by the prime minister, the Petroleum Division will formally announce the new prices, which will remain effective for 15 days.
It may be recalled that on January 1, 2026, petrol prices were reduced by Rs10.28 per litre, while high-speed diesel was cut by Rs8.57 per litre.
According to officials, the expected reduction in prices is due to a decline in international oil prices, lower customs duties, and changes in currency exchange rates. In the global market, petrol prices fell by $2.74 per barrel on January 11, reaching $66.54 per barrel.
