ISLAMABAD: The prices of petroleum products are likely to drop by Rs2 to Rs3 per litre in Pakistan from November 1 for the next fortnight.
According to reports after a minor drop in the prices of international petroleum products because of the war in the Middle East, there are chances that the prices in Pakistan will also come down.
Reports say that the prices of petrol and HSD (high-speed diesel) may be reduced by Rs3 and Rs2.30 per litre, respectively.
However, the OGRA (Oil and Gas Regulatory Authority) has not yet moved any summary of prices for the first fortnight of November.
The price of petrol had come down in the global market to about $76 per barrel from about $77.5 per barrel. Whereas, the HSD also reduced to about $84 per barrel from $86.5.
On Oct 15, the government had increased the price of diesel by Rs5 per litre, while the price of petrol was not changed.
This was the first increase in petroleum prices in three months, which have been continuously going down due to the falling prices in the international market.
