The price of petrol is likely to drop by Re0.61 for the next fortnight from September 1. According to sources, the prices of other petroleum products are also expected to see downward revision as high-speed diesel (HSD) price may go down by Rs3.13 per litre.

Similarly, the price of kerosene is expected to drop by Rs1.57 per litre, and light diesel oil (LDO) may become cheaper by Rs2.61 per litre.

Officials said the Oil and Gas Regulatory Authority (OGRA) will finalise its pricing calculations and forward the working paper to the Ministry of Petroleum, which will then share it with the Finance Division.

The final decision on the new prices will be made after consultation with Prime Minister Shehbaz Sharif, following which the Ministry of Finance is expected to issue an official notification. If approved, the revised prices will come into effect from midnight on September 1.