ISLAMABAD – The prices of petroleum products are expected to go down for the second half of October as the interim government planned to give relief to the distressed public who are paying record high prices for the basic commodity.
Reports suggest that for October’s second fortnight, the cost of petrol would move down by Rs38 per litre as oil prices tumbled to six months low.
The expected price drop would be a second decrease in recent weeks, as local currency bounced back, along with a drop in rates of petroleum products.
Globally, oil rates plunged by $7 per barrel, and in the Gulf market, crude oil prices moved down by $92 per barrel.
If approved, the current petrol price is likely to drop to Rs285. The final decision in this regard will be announced on October 15.
Earlier this month, the government had reduced the price of petrol by Rs8 — from Rs331.38 per litre to Rs323.38.
