In a positive development, the recent global cut in oil prices might lead to substantial relief for Pakistani consumers, with potential reductions of up to Rs13 in petrol prices and Rs15 in diesel prices, according to sources.
With current prices standing at Rs281.34 for petrol and Rs289.79 for diesel, the anticipated adjustment aims to pass on the decline in global oil costs to the local market.
Recent fluctuations in the international market have witnessed a decrease of over $5 per barrel in both petrol and diesel prices, prompting industry insiders to predict a significant decrease in the upcoming fortnightly announcement on December 15. If these projections materialize, consumers can expect relief at the pumps as the government adjusts prices to align with the international trend.
Pakistan’s fortnightly adjustment system ensures that consumers regularly experience the impact of global oil price fluctuations. The potential for a double-digit reduction in fuel prices is particularly noteworthy, offering welcome relief for the general public and various industries that heavily rely on affordable transportation.
Experts highlight that the value of the rupee against the dollar and international oil prices are crucial factors influencing fuel prices in Pakistan. As the government closely monitors these variables, consumers eagerly await the official announcement on December 15 to gauge the extent of the impending relief at gas stations nationwide.
