The federal government is likely to decrease the petrol price by Rs5 per litre from January 16.

The Oil and Gas Regulatory Authority (OGRA) has recommended Rs5 per litre decrease in price of petrol, Rs 2 in diesel, Kerosene oil by Rs3 and LSD by Rs1.75 per litre.

“Working on new POL prices to be implemented from January 16, 2024, will be finalised on January 15,” said sources within Ogra.

 Last fortnight, the government maintained the prices of petrol and high-speed diesel (HSD) unchanged.

The notification added that decision had been made on the recommendation of the Oil and Gas Regulatory Authority (Ogra).

Ogra had made the recommendation keeping in view the international oil prices.

As of the first half of January 2024, the current prices of petrol and diesel in Pakistan are as follows:

Petrol: Rs267.34

Diesel: Rs276.21