ISLAMABAD: The government is expected to cut the prices of petroleum products by Rs 10.60 per liter for the coming New Year. This price reduction is going to be applied to several petroleum products so that the general public can be relieved a bit financially.
According to the Ministry of Finance’s preliminary reports, petrol price is expected to come down by Rs 10.60 per liter with effect from January 1, 2026. Moreover, there is a possibility that the price of High-Speed Diesel (HSD) will be reduced by Rs 8.59 per liter. The most likely price cuts for other petroleum products are Rs 9 per liter for kerosene oil and Rs 6.62 per liter for light diesel oil.
The Oil and Gas Regulatory Authority (OGRA) has prepared a working paper that illustrates the price reduction and will present it to the government for authorization. The Minister of Petroleum will then notify after the Prime Minister’s consent.
On the contrary, the consumers can only benefit from this concession provided the government does not place any new taxes or levies on petroleum products. The decision, once approved, will become an instant source of relief to the consumers right at the beginning of the New Year.
