In a recent development, Pakistan is poised for a significant drop in fuel prices, with petrol and high-speed diesel set to become more affordable for consumers. The expected decrease comes as a welcome relief for motorists and businesses alike.
Petrol Price Drops by 36 Rupees:
As of today, petrol prices are anticipated to fall by a substantial 36 rupees per liter. This shift in pricing is attributed to a reduction in the refinery cost of petrol by 36 rupees, bringing it down to 206 rupees per liter. This move will undoubtedly put smiles on the faces of Pakistani car owners who have been dealing with rising fuel costs.
High-Speed Diesel Follows Suit:
It’s not just petrol that’s getting more budget-friendly; high-speed diesel is also set to see a significant price decrease of 19 rupees per liter. The refinery price of diesel has dropped by 19 rupees, making it more accessible to those relying on diesel-powered vehicles.
Global Market Trends Impacting Pakistan:
Global market dynamics have played a pivotal role in this pricing adjustment. International petrol prices have fallen by 10 dollars, reaching a new low of $104 per barrel, while diesel has also seen an 8-dollar drop, bringing it to $118 per barrel. These favorable trends in the global oil market have contributed to the positive outlook for fuel prices in Pakistan.
Economic Experts Predict Further Improvements:
Economic experts are optimistic about the Pakistani rupee’s continuous strengthening. This improvement in the currency’s value is expected to lead to even more reductions in the prices of petroleum products. Consumers can look forward to additional savings at the pump.
Government Decision Awaited:
The final decision on these anticipated fuel price reductions rests with the government. It’s important to note that, on September 30, the government had already reduced petrol prices by 8 rupees, bringing the new price to 323.38 rupees. Similarly, high-speed diesel became 11 rupees cheaper, now available at 318.18 rupees per liter. The government’s official announcement on October 15 will confirm the new prices, bringing much-needed relief to consumers and businesses alike.
Stay tuned for the official announcement on October 15 as Pakistan continues to witness positive changes in fuel prices, providing financial relief to its citizens.