ISLAMABAD, OCT 15: Petroleum prices are likely to decrease from October 16, with petrol expected to become cheaper by up to Rs6.10 per litre, The News reported on Wednesday citing sources in the petroleum sector.

According to the industry’s price calculations submitted to the Oil and Gas Regulatory Authority (OGRA), the price of high-speed diesel (HSD) is likely to be reduced by 97 paisa per litre, while kerosene may see a cut of Rs2.75 per litre.

Light diesel oil (LDO) is also expected to drop by Rs1.64 per litre, sources said.

They said that OGRA has finalised its summary for the revision of petroleum product prices and forwarded it to the Petroleum Division.

On October 1, the federal government hiked the price of petrol by Rs4.07 per litre. Petrol is currently being sold at Rs268.68 per litre.

Similarly, the price of high-speed diesel (HSD) was also raised by Rs4.04, bringing it to Rs276. 18.

Petrol powers small vehicles, rickshaws, and bikes, making price hikes especially hard on middle- and lower-income households who depend on it for daily commuting.

In contrast, a substantial portion of the transport sector depends on high-speed diesel. Its price is considered inflationary due to its widespread use in trucks, buses, trains, and farm machinery, such as tractors and tube wells.