ISLAMABAD – The government is likely to decrease fuel prices by October 1, sources said on Thursday.
The price of kerosene oil may be reduced by Rs1.60 per litre, high octane blended component (HOBC) Rs0.60, high speed diesel (HSD) Rs0.55, and light diesel oil (LDO) Rs0.40 per litre, sources said.
The Petroleum Ministry will determine the prices on September 29 and a summary will be sent to the Finance Ministry on September 30, according to sources. People have been making a litany of complaints that the government had devised a ‘strange’ policy under which the prices shot up four times in a month.
“Fuel prices go up by 75 per cent while the same decline by 25 per cent in a month under the government policy,” they said, adding that such hikes had been adding to public woes.
They raised the demand for determining proper mechanism over the issue of price hike so that public could get relief. Transports also used to toe the government policy as they raise fare after an increase in fuel prices.