Pakistan is on the brink of experiencing a significant decrease in fuel prices. With the global crude oil prices taking a downward turn, there’s a strong possibility of a substantial reduction in petrol prices in Pakistan.
New Petrol Price
According to industry sources, petrol and high-speed diesel (HSD) prices are projected to decrease by up to Rs. 12 per liter. While kerosene prices may see a reduction of up to Rs. 8 per liter. If it happens, new price of these petroleum products will be Rs. 247.10 and 250.75 per liter. Whereas Kerosene oil price will reach Rs. 161.62 per liter.
Current Prices
Earlier on 31 August, the federal government of Pakistan decreased petrol price by Rs. 1.86 per liter taking to it to the new (current) Rs. Rs. 259.10 per liter.
Meanwhile high-speed diesel (HSD) saw a reduction of Rs. 3.32 per liter, bringing its new price to Rs. 262.75 per liter. However, Kerosene oil price was slashed by Rs. 2.15 per liter, making its new price Rs. 169.62 per liter. Additionally, the price of light diesel oil was lowered by Rs. 2.97 per liter, now priced at Rs. 154.05 per liter.
These anticipated price cuts are a direct result of the easing global oil market. However, it’s important to note that the final determination of the new fuel prices will hinge on the fluctuations in the international market between the 12th and 14th of September.
This development comes as a much-needed relief for the Pakistani public, who have been grappling with rising inflation and high fuel costs for some time now. A decrease in fuel prices is likely to have a positive ripple effect on the economy, as it could lead to lower transportation costs and reduced prices for various goods and services.
What do you think about the anticipated reduction in oil prices. Tell us in the comments section.
