KARACHI: From 16th July, petrol and CNG prices are expected to decline with 2.70 Rs per liter.

According to the sources due to decrease in the prices of crude oil in international market, it as also expected the price to fall down in the local market as well.

From next week, prices of Petrol, Compressed Natural Gas (CNG) and High Speed Diesel (HSD) are likely to go down by Rs 2.70 per litre, Rs 2.5 per litre and Re 1 per liter respectively.

Currently different POL products are being sold on following prices: HOBC Rs 106.88/ltr, premium (Petrol) Rs 84.49/Ltr, HSD Rs 97.21/ltr, LDO Rs 83.71/ltr and Kerosene Oil Rs 86.25 /ltr.

As the prices are expected to decrease, from July 16 petrol will be available at Rs 81.70 per litre and HSD at Rs 96.21 per litre. While, prices of HOBC would go up to Rs 111.38 per litre, LDO Rs 84.91 per litre and Kerosene Oil Rs 87.85 per litre.

Where as on other petroleum commodities and on lubricant oils the prices are expected to be increased around 1.20 Rs to 4.50 Rs. New prices will be applicable from 16th July.

During past one and a half months prices of POL products were considerably reduced in the country due to reduction in international market. The government and the All Pakistan CNG Association last month signed an agreement to keep parity of 60 percent between the petrol and CNG price.