ISLAMABAD: Petrol and diesel prices are expected to decrease in Pakistan following the decline in global oil prices.
As per the international market reports, the price of petrol has decreased by $1.40 per barrel, bringing it down from $7.24 to $5.84 per barrel. Similarly, diesel prices have also seen a decrease of $0.60 per barrel. This decline in global oil prices could lead to a significant reduction in fuel prices for Pakistani consumers.
Market analysts believe that based on the current international price trends, petrol prices in Pakistan may decrease by Rs3.18 per litre while diesel prices may decrease by Rs3 per litre. However, the final decision will be taken by the government during the next review of fuel prices.
The reduction in fuel prices, if implemented, will provide much-needed relief to consumers, especially in the context of rising inflation and economic challenges.
The government revises fuel prices every fortnight, taking into account global market trends, exchange rates and local tax adjustments. The final announcement regarding the new prices will be made in the next price review.
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