The federal government is poised to cut petrol and high-speed diesel (HSD) prices by up to Rs11 per liter, as projected by oil marketing companies (OMCs).
This adjustment, set to take effect at midnight, will see petrol prices drop by Rs6 per litre and HSD prices reduced by Rs11.50 per litre.
The anticipated price reduction is attributed to a recent fall in international oil prices. Over the past two weeks, the price of petrol has decreased from $89.50 to $87.50 per barrel, while the cost of high-speed diesel has fallen from $96.93 to $94 per barrel.
Additionally, the import premiums for both petrol and diesel have decreased. These factors collectively have allowed the government to lower fuel prices and pass the savings on to consumers.
