Petrol price in Pakistan may further drop from Dec 16

ISLAMABAD: There are indications that the prices of petrol and diesel in Pakistan may witness a significant decline. Reports suggest a potential decrease of Rs 13 per liter for petrol and Rs 15 per liter for diesel.

This anticipated reduction is attributed to a decline in global oil prices. Specifically, the cost of a barrel of petrol has fallen by $5.49 to $94.95, while the price of diesel has decreased by $5.13 to $100.05 in the international market.

Presently, the existing fuel prices in Pakistan stand at Rs 281.34 per liter for petrol and Rs 289.79 per liter for diesel. A final decision on the revised fuel prices is expected from the government on December 15, and if approved, the new prices will be implemented starting from December 16.

The potential decrease in fuel prices is a result of the shifting dynamics in the global oil market. Essentially, the overall decline in global oil prices could bring relief to consumers in Pakistan by lowering the costs of both petrol and diesel.

The government will play a crucial role in determining whether to implement the proposed price changes, taking into account the current conditions in the market.