The prices of petroleum products in Pakistan are likely to decrease starting October 1, following a significant reduction in global oil prices, according to local media reports.
The federal government is expected to announce the new prices on September 30, with petrol prices projected to drop by Rs 1 to 3 per litre. Diesel prices could also see a reduction of up to Rs 3 per litre.
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This move comes in response to the recent drop in international oil prices, where Brent crude fell by $0.50, bringing it down to $72.27 per barrel. The final decision will be made after securing approval from the Prime Minister.
Earlier on September 15, the government had also reduced petroleum prices, cutting petrol by Rs 10 per litre and diesel by Rs 13.6 per litre, offering some relief to consumers. The prices of light diesel and kerosene had also been lowered by Rs 12 and Rs 11 to 15 per litre, respectively.
The expected reduction is aimed at providing further financial relief amid fluctuating global oil prices.
