Petrol prices in Pakistan are likely to see a notable drop in the upcoming review, bringing much-needed relief to consumers. This anticipated decrease is linked to recent trends in the international oil market, where crude prices have been on a steady decline. Market insiders suggest that the price of petrol could go down by over Rs. 8 per litre, making it one of the sharpest reductions in recent months.
Petrol Prices in Pakistan May See Major Reduction
According to industry sources, petrol prices in Pakistan could be slashed by up to Rs. 8.27 per litre. In addition, diesel is expected to be cheaper by approximately Rs. 7 per litre. The prices of other petroleum products are also projected to decline, with kerosene oil possibly dropping by Rs. 7.47 per litre and light diesel oil by Rs. 7.21 per litre. This move is part of the government’s regular fortnightly fuel price adjustments and reflects the recent fall in international crude oil rates.
Previous Price Cuts Were Modest Compared to Expected Drop
In the last review, the federal government had introduced only a slight decrease of Rs. 1 per litre in petrol prices, bringing the rate down to Rs. 254.63. Diesel prices were left unchanged at Rs. 258.64 per litre. Prior to that, fuel prices had remained static without any adjustments for weeks. The expected cut in the current cycle marks a notable shift and could ease inflationary pressure on transportation and consumer goods.
Read more: Government Raises Petrol Price by Rs1.35, High-Speed Diesel Surges by Rs3.85
