What could be the latest petrol price in Pakistan from December 1?

LAHORE – The prices of all petroleum products are estimated to go down from tomorrow (December 1) in light of the decline of crude oil.

Reports in local media suggest that the Sharif-led government is expected to cut fuel prices to pass on the global drop to consumers as the cash-strapped country is experiencing record inflation in recent months.

Crude oil lately sank $2.57 to $81.14 per barrel and Pakistani consumers would be able to avail this relief if the government passes on the entire reduction in global oil prices to them.

Masses already faced several oil price shocks since the ruling alliance government came into power to fulfill its commitment with the international lender.

Lately, the former spokesperson of the Ministry of Finance Muzammil Aslam demanded a substantial cut in key petroleum products.

"Oil prices are now lower than pre Russia-Ukraine and trading at lowest level of 2022. The local petrol price year ago were at Rs113.48/litre when crude were below $75/bbl. Let’s see how much Ishaq Dar can pass on…prices must reduce by Rs25/litre", he wrote on social media, saying it's time to pass on relief.

The local petrol price on Jan 1st were 142.32/litre when crude prices were above $75/bbl. If we add further 40/litre for PDL and exchange adjustments the price should not be more than 200/litre. Time to pass on relief https://t.co/9TcfDw3AzV pic.twitter.com/kPX80mNBH0

— Muzzammil Aslam (@MuzzammilAslam3) November 28, 2022

Two weeks back, the government kept the price of petrol unchanged at Rs224.80 per litre for the next fortnight.

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