After a noticeable decline in global petroleum prices, there is a possibility of a significant reduction in petroleum product prices in Pakistan as well.
On the global stage, the price of petrol has fallen by $12 per barrel, resulting in a current price of $102 per barrel, while diesel prices have dipped by $9 to settle at $117 per barrel.
Following the drop in international petroleum prices, local consumers can anticipate a substantial reduction of Rs38 per liter in petrol prices and Rs18 per liter in diesel prices.
The consistent increase in the value of the Pakistani rupee could further contribute to the decline in petroleum product prices.
Moreover, Pakistani Rupee continued its upward trend against the US dollar in interbank trading, reaching Rs283.70 on Thursday.
In the open market rate, the price of the American currency reached Rs284 with a decrease of Rs1 against the Pakistani Rupee.
A final decision on the new prices to be announced on October 15.
It's worth noting that the interim government had already reduced petrol prices by Rs8 on September 30, bringing the new price to Rs323.38 per liter.
High-speed diesel also saw a reduction of Rs11, resulting in a price of Rs318.18 per liter.
