In a positive development for consumers, petroleum prices in Pakistan are expected to be reduced in response to the ongoing decline in global oil prices. According to sources, the price of petrol may decrease by Rs13 to Rs15 per litre, while diesel prices could see a reduction of up to Rs11 per litre.
This anticipated price cut is likely to take effect over the next fifteen days, bringing some financial relief to citizens. The Oil and Gas Regulatory Authority (OGRA) is currently preparing a summary for price adjustments, which will be submitted to the prime minister for approval. Upon approval, the Ministry of Finance will issue the official notification to formalize the price reductions.
Also Read: Government Reduces Prices of Petroleum Products and LPG
The government’s decision comes as global oil prices continue to fall, driven by various international market dynamics. This local adjustment will align with global trends, making fuel more affordable in Pakistan, easing pressure on household budgets, and potentially affecting inflation rates.
If approved, the move will be welcomed by both consumers and businesses, especially at a time when rising costs have been impacting everyday expenses. The reduced fuel prices are expected to provide some respite to the transportation sector, which could help stabilize prices in other industries as well.
