The imminent reduction in petrol prices is once again expected to take place in Pakistan.
In good news for the inflation-stressed Pakistani citizens, the government is all set to introduce more relief for petroleum refiners.
In the next 15 days, the petrol price in Pakistan will likely decrease by Rs 1.72 per liter.
Drop in Petrol Prices:
On the contrary, due to the slight increase in international diesel prices, high-speed diesel in Pakistan is also expected to increase by about Rs 1 per liter.
If this adjustment is made, the price of diesel in Pakistan is likely to be Rs.277.21 per liter and the petrol price is likely to be Rs.265.62 per liter.
The expected drop in petrol prices after a review of the last 15 days is the result of a marginal drop seen in the prices of international petroleum products.
Read More: TikTok Star Sandal Khattak Enters the Race With Nomination Papers for a Reserved Seat.
Despite the reduction in petrol price by two rupees per liter, people may have different opinions. Some may see this as a positive and some may not consider it as much of a relief as the price of petrol is still above Rs 250 per liter.
The announcement by the government will take place on Sunday, December 31 after 11 pm and the new petroleum prices will be effective from January 1.
The updated prices will be applicable nationwide, with inclusion in various cities such as Karachi, Rawalpindi, Gujranwala, Islamabad, Lahore, Multan, Sialkot, and Faisalabad,
According to the current prices in Pakistan, petrol price is Rs 267.34 per liter and diesel price is Rs 276.21 per liter. These prices will be valid till the last day of 2023, Sunday 31st December 2023.
There was a significant relief for Pakistanis in the review of the last 15 days as petrol price was reduced by Rs 14 per liter and diesel price was reduced by Rs 13.50 per liter in the last 15 days.
This price estimate represents a 49% drop in international petrol prices as of December 22, which settled at $94.59.
.On the other hand, the international price of diesel is $101.30, which shows an increase of $1.49 compared to the price of December 15.
However, it is essential to make sure that there is still a week to go as futures prices are set based on global market movements and exchange rate fluctuations.
Considering the last 15 days, due to the government’s decision, the price of diesel has been reduced by Rs 13.50 and the price of petrol by Rs 14.
The new prices will be announced on the night of December 31, 2023, through a notification by the Ministry of Finance or the Petroleum Division.