POL prices are likely to go down for next fortnight

Islamabad: The federal government is likely to reduce the petrol price by Rs5 per litre on the upcoming review starting from January 16.

The new prices for petroleum oil and lubricants (POL) are under consideration and are expected to be finalized on January 15, with implementation scheduled for January 16, 2024, said the sources privy to the development.

They said that the Oil and Gas Regulatory Authority (OGRA) suggested a decrease of Rs5 per litre for petrol, Rs2 for diesel, Rs3 for kerosene oil, and Rs1.75 for LSD (light-speed diesel).