ISLAMABAD – The price of petrol and diesel is likely to be revised in line with fluctuations in the local currency and changes in global oil prices.
The caretaker government is likely to cut the price of petrol and diesel for second half of December 2023, with expected drop is somewhere around Rs15 per litre.
Reports in local media said a significant reduction in fuel prices in light of dip in global oil prices that contributed to potential relief for Pakistanis, who are facing inflation amid an economic crisis.
Globally, the price of petrol per barrel moved down by $5.49 to $94.95, and diesel plunged by $5.13 to $100.05.
As of early Dec, petrol price stands at Rs 281.34 per litre for petrol and Rs 289.79 per litre for diesel.
The government will make a final decision on December 15, and the new prices will be implemented from December 16.
Kakar led is looking to tame inflation with fuel price cuts and price-control mechanism. The country is moving to economic recovery under a caretaker government after the country averts debt default, and cut in fuel prices will aid in inflation control.
Pakistan keeps petrol price unchanged, drops diesel by Rs7 per litre
