The reduction of up to Rs9 per litre is anticipated.

Industry estimates suggest that the price of high-speed diesel is expected to decrease by Rs9.11 per litre, while petrol price could reduce by Rs2.50 per litre. Similarly, kerosene oil is expected to see a reduction of 3.45 rupees per liter, and light diesel prices may drop by Rs5.60 per litre.

Fluctuations in global crude oil prices could lead to the price adjustments. The industry has submitted its calculations to the Oil and Gas Regulatory Authority (OGRA), which will finalize its recommendations according to international market trends and send them to the government on February 15.

The final approval for the revised petroleum prices will be granted by Prime Minister Shehbaz Sharif, and the Ministry of Finance will issue the official notification for the new rates.