ISLAMABAD (PEN) : In response to recent fluctuations in global oil markets, petroleum product prices in Pakistan are likely to undergo minor changes starting June 1, pending final approval by the Prime Minister.
OGRA Submits Pricing Recommendations
According to official sources, the Oil and Gas Regulatory Authority (OGRA) has received a working paper from the oil industry outlining proposed adjustments to fuel prices. Based on this input, OGRA is expected to submit a formal pricing summary to the Ministry of Finance by May 31.
Expected Price Changes
Preliminary estimates indicate the following adjustments:
*Petrol: May decrease by **Rs. 0.61* per litre
*High-Speed Diesel (HSD): Likely to reduce by **Rs. 0.28* per litre
*Kerosene: Expected to **increase* by *Rs. 0.21* per litre
*Light Diesel Oil (LDO): May rise by **Rs. 1.30* per litre
The final decision will be made following consultation with the Prime Minister. An official notification from the Ministry of Finance is anticipated shortly after approval.
Government Flexibility on Tax Adjustments
Officials also noted that the government retains the authority to modify petroleum taxes or subsidies to adjust the level of relief provided to consumers, depending on broader fiscal and economic considerations.
The upcoming revision will mark the latest in a series of fortnightly pricing reviews aimed at aligning domestic fuel costs with international market trends while maintaining fiscal stability.
