ISLAMABAD: The prices of petroleum products are likely to decrease by Rs2 to Rs3 per litre with effect from November 1.
According to sources, after a minor drop in global prices due to war in the Middle East, there is all likelihood that the prices in Pakistan will also come down.
The sources hinted that the prices of petrol and HSD (high-speed diesel) may be reduced by Rs3 and Rs2.30 per litre, respectively.
However, the OGRA (Oil and Gas Regulatory Authority) has not yet prepared a summary of prices for the first fortnight of November.
The price of petrol had dropped in the international market to about $76 per barrel from about $77.5 per barrel. Similarly, the HSD also declined to about $84 per barrel from $86.5.
On Oct 15, the government had increased the price of diesel by Rs5 per litre, while kept the rate of petrol unchanged.
This was the first increase in the prices of petroleum products in three months, which have been constantly going down due to the falling prices in the international market.
