Petroleum prices in Pakistan to go down by as much as Rs 6/ltr

As the oil prices reached the lowest level in six years in global markets, a similar cut in petroleum oil and lubricants (POL) rates is expected in Pakistan.

Sources within the Oil and Gas Regulatory Authority (Ogra) Wednesday said that petrol prices are likely to decrease by Rs 6.35/liter, while high octane to go down by Rs 8.10/liter.

Similarly, the prices of high-speed diesel and kerosene oil can be reduced by Rs 3.90/liter and Rs 3.11/liter respectively.

Rate of light-speed diesel is expected to reduce by Rs 3.57/liter.

The finalized summary of reduction in prices will be forwarded to Ministry of Petroleum on August 27.