Islamabad: Pakistan is expected to witness a considerable reduction in petrol prices starting January 16, 2024. This projection is linked to the downward trend in global crude oil prices and the positive trajectory of the Pakistani rupee.
Reports suggest a potential decrease of Rs10 per litre in petrol prices during the upcoming fortnightly review scheduled for January 15. If this adjustment materializes, the new petrol price per litre in Pakistan would be Rs257.34 from January 16, 2024, to January 31, 2024.
The last adjustment in petrol prices occurred on December 15, 2023, fixing it at Rs267.34 per litre. These rates remained unchanged in the fortnightly review conducted on January 1, 2024.
Detailed information indicates an anticipated Rs2 per litre reduction in diesel prices influenced by the global market. Furthermore, prices for kerosene oil and light diesel oil are also expected to decrease by approximately Rs2 per litre.
Read more: In the first half of FY24, Pakistan’s petroleum industry saw a 15% decline in sales
However, official confirmation of petrol prices in Pakistan will only be available after the scheduled fortnightly review on January 15, following which the government will announce the updated petrol prices in the country.
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