Petrol prices in Pakistan are expected to drops by Rs. 13 to Rs. 15 per litre in the coming days. This anticipated reduction follows a continued decline in global oil prices, which have been impacted by economic concerns and supply adjustments.
The government is likely to announce a significant cut in petroleum product prices for the next fortnight, bringing much-needed relief to consumers amid rising inflation. Alongside petrol, diesel prices may also see a reduction of up to Rs. 11 per litre, further easing transportation costs across the country.
The Oil and Gas Regulatory Authority (OGRA) is preparing a summary outlining the proposed price adjustments, which will be submitted to the prime minister for approval. Once cleared, the Finance Ministry will issue an official notification, making the new rates effective.
The anticipated drop in fuel prices aligns with global market trends, where oil prices have been declining due to economic uncertainties. On Tuesday, international crude oil prices fell for the second consecutive day as traders expressed concerns about a possible US recession and the impact of tariffs on global trade. Additionally, OPEC+ members are reportedly planning to increase supply, contributing to the downward pressure on prices.
As of early Tuesday trading, Brent crude futures slipped by 6 cents (0.1%) to $69.22 per barrel, while US West Texas Intermediate (WTI) crude futures dropped by 13 cents (0.2%), settling at $65.90 per barrel. The continuous decline in international oil prices suggests that Pakistan may see further fuel price reductions in the coming weeks, providing relief to businesses and households dependent on fuel for daily operations.
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