ISLAMABAD: The government is considering a reduction in petroleum product prices by up to Rs10.60 per litre from January 1, 2026, as a New Year relief package for the public, officials in the Ministry of Finance said.
According to the officials, preliminary working papers for the revision of petroleum prices have been prepared. The proposal suggests a Rs10.60 per litre cut in petrol prices, while high-speed diesel may become cheaper by Rs8.59 per litre.
Similarly, the price of kerosene oil is likely to be reduced by Rs9 per litre, and light diesel oil by Rs6.62 per litre.
Sources said the Oil and Gas Regulatory Authority (OGRA) will forward its final working papers to the government on Tuesday. The Ministry of Finance will make the final decision after receiving approval from the Prime Minister, while the official notification will be issued by the Ministry of Petroleum.
Officials added that if the government refrains from imposing additional levies or taxes, consumers are expected to receive substantial relief at the start of the new year.
The proposed reduction comes amid fluctuating global oil prices and ongoing efforts by the government to provide economic relief to the public.
