The government is expected to reduce Petrol and diesel prices today after a decline in international oil rates. The drop in global prices has lowered ex-refinery costs for both fuels, increasing hopes for relief for consumers.
According to market estimates, the ex-refinery price of diesel has fallen by Rs. 31 per litre. Petrol prices have also declined by Rs. 8.54 per litre. This reduction may lead to lower domestic fuel prices in the coming days.
Reports show that the ex-refinery price of Petrol has dropped from Rs. 277.06 per litre to Rs. 268.52 per litre. However, the expected relief may not fully reach consumers due to higher customs duty.
The customs duty on Petrol has reportedly increased by Rs. 2.86 per litre. It rose from Rs. 22.75 to Rs. 25.61 per litre. Officials believe this increase could reduce the overall impact of the expected price cut.
Despite a rise in global petrol premiums, international fuel prices remained on a downward trend. Petrol premiums increased by $2.90 per barrel, moving from $17.44 to $20.34. However, the overall petrol price declined from $144.57 to $138.08 per barrel.
Diesel prices recorded a sharper decrease in the global market. The ex-refinery cost of diesel fell from Rs. 322.28 per litre to Rs. 291.37 per litre. International diesel prices also dropped significantly by $17.61 per barrel. Rates moved down from $169.10 to $151.40 per barrel.
The final decision on revised petroleum prices will be taken after consultations between the prime minister and the economic team. Officials are expected to review revenue targets before approving the new rates.
Consumers across the country are closely watching the announcement. Lower fuel prices could provide relief to transporters and reduce daily travel costs. Businesses also expect that cheaper fuel may help lower transportation expenses in different sectors.
In other news read more about Petrol Prices Surge in Gwadar as Fuel Costs Hit New Highs in Balochistan
The government usually revises fuel prices every fortnight based on changes in the international oil market and local taxation policies.
