A significant reduction in petroleum product prices is expected next week, with petrol likely to become cheaper by Rs13 to Rs15 per liter and diesel by Rs11 per litre.

Sources indicate that the decline in global oil prices has paved the way for a similar reduction in Pakistan.

The Oil and Gas Regulatory Authority (OGRA) will finalise its recommendations, after which the Ministry of Finance will make the final decision and issue a notification.

The expected price cut is anticipated to bring much-needed relief to consumers already burdened by inflation.

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