ISLAMABAD: The federal government is expected to reduce petroleum product prices by up to Rs 10 in the upcoming fortnightly review scheduled for March 15, sources said on Thursday.
Petrol prices may be reduced by Rs 10 per liter, while high-speed diesel could see a reduction of Rs 6-8 per liter.
Similarly, the prices of kerosene and light diesel oil are expected to decrease by Rs10 and Rs7 per litre, respectively.
However, the final pricing will depend on fluctuations in global oil rates over the next three days, sources added.
In the previous review on February 28, the government lowered petrol prices by Re0.50 per litre and HSD prices by Rs5.31 per litre for the fortnight ending March 15.
Petrol is primarily used in private transportation, including small vehicles, rickshaws, and motorcycles. Any fluctuation in its price directly impacts middle- and lower-middle-class households, which rely on it for daily commuting.
Meanwhile, high-speed diesel is a critical fuel for the transport sector. Its price is considered a key driver of inflation as it powers heavy goods transport, trucks, buses, trains, and agricultural machinery like tractors, tube wells, and threshers. The cost of HSD directly affects the prices of essential commodities such as vegetables and other food items.
