Anticipated relief: Petrol Prices poised to drop by Rs 13

petrol price in Pakistan

ISLAMABAD: A potential respite awaits consumers as petrol prices are expected to witness a decline on December 16.

The government, following its bi-monthly review of petroleum product prices, is likely to announce reductions, with media reports suggesting a noteworthy decrease.

Sources indicate that the price of petrol is projected to witness a substantial reduction of Rs 13 per liter, while diesel may see a decrease of Rs 15 per liter.

The Oil and Gas Regulatory Authority (OGRA) will forward a summary to the government for consideration, and a final decision on the revised prices is expected to be made before the scheduled implementation on December 16.

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This development follows the government’s decision not to reduce petrol prices on December 1, despite a decrease in diesel costs.

The downward trend in global oil prices has set the stage for a potential reduction in petroleum product prices in Pakistan, subject to the government’s final decision.

 As consumers await confirmation, the prospect of more affordable fuel offers a glimmer of relief amid economic uncertainties.

The dip in global oil prices has contributed to this potential relief for consumers, as the price of petrol per barrel dropped by $5.49 to $94.95, and diesel decreased by $5.13 to $100.05 in the international market.

Presently, the fuel prices in Pakistan stand at Rs 281.34 per litre for petrol and Rs 289.79 per litre for diesel. The government is set to make a final decision on the revised prices on December 15, and if approved, the new prices will be implemented from December 16.

This anticipated reduction in fuel prices comes as a response to the changing dynamics of the global oil market.

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