ISLAMABAD: The prices of Petroleum, Oil, & Lubricants (POL) may be cut by Rs8 per litre from November 1 as global oil prices continue to fall.
A senior government official predicted that the decline in oil prices would continue at least for a short term as OPEC is considering cutting production to avoid further decline in oil prices.
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The government had already decreased the POL prices by 2.8 per cent in October after oil prices dipped in the international market.
After the cut, the price of High Speed Diesel (HSD) is likely to come down by Rs5.50 per litre from Rs107.39 per litre. The petrol price would be cut by Rs5.25 per litre as it is being sold at Rs103.62 per litre. Kerosene oil may be reduced by Rs5.50 per litre.
