Fuel prices expected to drop from Dec 1

Prices of petroleum products are expected to see a major drop from December 1.

According to media reports, preliminary calculations shared with the Oil and Gas Regulatory Authority (OGRA), petrol prices may fall by Rs3.75 per litre, while high-speed diesel (HSD) could see a larger cut of Rs6.10 per litre.

Similarly, the price of kerosene oil is likely to drop by 73 paisa, and light diesel oil (LDO) may become cheaper by Rs6.35 per litre.

Citing sources, the reports said that all proposed pricing adjustments have been compiled and forwarded to OGRA. The regulator is now preparing a summary based on these recommendations, which will be submitted to the Ministry of Finance.

The Ministry of Finance is expected to announce the revised petroleum prices on November 30, which will take effect from December 1 for the next 15 days.

The ministry will consult the Prime Minister before finalizing the prices.