LIOC expects the government to reduce fuel prices due to the decline in global crude oil prices.
LIOC managing director Manoj Gupta said he expected the power and energy ministry to consider a price drop.
“The Energy Minister decides on oil price cuts. Given the decline in oil prices, he should consider lowering domestic pricing, Gupta said.
Any pricing changes will be disclosed on October 1. The computation uses 30-day crude oil prices.
“The price revision will be based on fuel prices from the last 30 days, not just one,” he said.
We couldn’t reach CPC Chairman Muhammad Uwais or Energy Minister Kanchana Wijesekera.