In response to the recent decrease in international prices, Pakistan is poised to reduce petrol prices, offering relief to the inflation-affected population. Reports indicate that both petrol and high-speed diesel (HSD) prices are expected to decrease by approximately Rs15 and Rs9 per litre, respectively.
Global petrol prices have seen a decline of about $8.7 per barrel, while HSD prices have dropped by $4.3 per barrel over the past two weeks.
The anticipated price of petrol in Pakistan is estimated to range between Rs273 to Rs275 per litre, subject to the final calculation of the inland freight equalization margin (IFEM). Despite a 7% increase in the import premium on petrol, which now stands at $10.30 per barrel, the strengthening of the rupee against the dollar by about 20 paise is expected to contribute to the reduction in petrol prices by approximately Rs15 per litre.
Meanwhile, diesel prices have also experienced a decline of about $4.3 per barrel in the international market. The import premium paid by the benchmark Pakistan State Oil (PSO) for diesel remains unchanged at $6.50 per barrel.
