Starting October 1, 2024, petrol and diesel prices in Pakistan may decrease as the government contemplates transferring the benefits of declining global oil rates to consumers.
Insiders reveal that discussions are ongoing, but the specific adjustments to fuel prices remain undecided.
Global oil prices have recently fallen, with Brent crude oil dropping approximately $0.50 to $72.27 per barrel and US crude oil decreasing by 37 cents. This decrease suggests potential relief for Pakistani consumers at the fuel pumps.
The government urges consumers to wait for an official announcement regarding the adjustments in petrol and diesel prices.
The federal government reviews and adjusts fuel prices in Pakistan biweekly. These adjustments consider international oil price fluctuations, exchange rate variations, and domestic demand.
The latest update from the Finance Ministry, dated September 15, reported a reduction in fuel prices effective September 16. Petrol prices decreased by Rs10 to Rs249.10 per litre, and high-speed diesel prices dropped by Rs13.6 to Rs249.69 per litre.
Additionally, kerosene oil was reduced by Rs11.15, setting it at Rs158.47 per litre.
