KARACHI – A sigh of relief for inflation-weary Pakistanis as sharp drop in global oil prices ignited strong hopes of major relief for consumers in Pakistan.
Petrol and diesel prices in Pakistan are expected to come down amid decline across international markets. The global price of petrol has fallen by $2.74 per barrel, sliding from $69.27 to $66.54 per barrel. Adding to the positive momentum, the petrol premium has also dropped by 13 cents per barrel, decreasing from $5.14 to $5.01.
The impact does not stop there. Customs duty on petrol has been reduced by 72 paisas per litre, while exchange rate adjustment has declined by 68 paisas per litre, further easing the cost structure.
As a result of these combined factors, the ex-refinery price of petrol has fallen sharply by Rs6.51 per litre, bringing price down from Rs 145.57 to Rs 139.06 per litre.
Diesel prices followed similar downward trajectory with global price of diesel dropped by $2.33 per barrel, falling from $76.32 to $73.99 per barrel. Alongside this, customs duty on diesel decreased by 80 paisas per litre, while exchange adjustment was reduced by 35 paisas per litre. These reductions led to Rs 5.33 per litre cut in the ex-refinery price of diesel, bringing it down from Rs 155.33 to Rs 149.99 per litre.
With global trends clearly moving downward, expectations are soaring that Pakistan may soon announce a significant cut in fuel prices,. a move that could provide long-awaited relief to inflation-hit consumers and businesses alike.
Gas prices to remain unchanged for six months for all categories
