Global petroleum prices have seen a significant decrease, and this downward trend is expected to impact Pakistan’s petroleum product prices as well. Internationally, petrol prices have plummeted by $12, leading to a current rate of $102 per barrel. Similarly, diesel prices have decreased by $9, now at $117 per barrel.
This global shift might result in a considerable domestic price reduction, potentially by Rs38 per litre for petrol and Rs18 per litre for diesel. The strengthening Pakistani rupee, which recently hit Rs283.70 against the US dollar in interbank trading, may further intensify this price reduction. The open market rate for the US dollar stands at Rs284, marking a decrease of Rs1 against the Pakistani Rupee.
The definitive new prices are set to be revealed on October 15. Notably, the interim government had already slashed petrol prices by Rs8 on September 30, adjusting the rate to Rs323.38 per litre. High-speed diesel experienced an Rs11 decrease, settling at Rs318.18 per litre.