Petrol, Diesel Prices in Pakistan Likely to Decrease in Next Review

News Desk

Islamabad: Pakistani consumers may soon receive relief as petrol and diesel prices are expected to decline, following a reduction in global oil prices, market sources indicate.

According to international market reports, the price of petrol has dropped by $1.40 per barrel, bringing it down from $7.24 to $5.84 per barrel.

Similarly, diesel prices have also witnessed a decrease of $0.60 per barrel. This decline in global oil prices is likely to impact local fuel rates positively.

Market analysts suggest that based on current international pricing trends, petrol prices in Pakistan could see a reduction of Rs3.18 per litre, while diesel prices may decrease by Rs3 per litre. However, the final decision on price adjustments will be made by the government during the next scheduled fuel price review.

The anticipated reduction in fuel prices comes as a potential relief for citizens grappling with rising inflation and economic hardships.

Lower fuel costs are expected to ease transportation expenses and contribute to reducing overall inflationary pressure on essential commodities.

Pakistan’s government revises fuel prices every fortnight, considering fluctuations in global oil markets, exchange rates, and local taxation policies. The final announcement regarding the revised fuel prices will be made in the upcoming price review.