Petrol and diesel prices in Pakistan are expected to decrease starting October 1, with another round of relief anticipated due to a drop in global oil prices.
According to sources familiar with the situation, while a reduction is likely, the government has not yet finalized the specific figures for the first half of October 2024.
The price cut is expected to help further reduce inflation, which is currently in the single digits. As of late September, petrol is priced at approximately Rs249.10 per litre, and diesel at Rs249.69.
On the global front, Brent crude oil has dropped by about $0.50, now sitting at $72.27 per barrel, while US crude oil has fallen by 37 cents. These shifts are expected to bring some relief to the people of Pakistan. However, official confirmation of the expected price cuts is still awaited.
In Pakistan, petrol prices are revised every two weeks by the federal government, considering changes in international oil prices, exchange rates, and domestic demand.
