Once again, the Pakistani populace finds itself on the brink of a fortnightly revision in petrol price. The familiar speculation of a welcomed decrease in fuel prices looms, offering a potential respite for the middle class grappling with the weight of escalating living expenses.
Earlier reports hinted at a substantial decline of $5.49 per barrel in global oil prices, fueling expectations of a noteworthy reduction in petroleum product prices within Pakistan. The air was filled with anticipation, with rumors swirling around a possible Rs. 13 decrease in petrol prices and a more significant Rs. 15 per liter drop in diesel prices.
New Petrol Price Unveiled
Cut to the present, and the government has officially unveiled its decision. The Finance Division released a notification detailing the revised fuel prices, taking into account the global market fluctuations and the performance of the Pakistani Rupee against the US Dollar. Effective from December 16, 2023, the new petrol price in Pakistan is set at Rs. 267.34, reflecting a substantial Rs. 14 reduction from the previous rate of Rs. 281.34. Simultaneously, diesel experienced a significant price drop, now standing at Rs. 276.21 compared to its prior rate of Rs. 289.71—a notable Rs. 13.50 decrease.
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Relief For Masses
Relief For MassesThis announcement comes as a breath of relief for the masses, offering a momentary pause in the ongoing struggle against the economic strains. As citizens prepare for the upcoming weeks, the revised fuel prices aim to alleviate some financial burdens, providing a small silver lining amidst the challenges of inflation.
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