Petrol prices in Pakistan are expected to decline by Rs. 13 to Rs. 15 per litre in the coming days, following a drop in global oil prices. Diesel rates may also see a reduction of up to Rs. 11 per litre.
According to sources, the government is likely to announce these cuts in petroleum product prices for the next pricing cycle. The Oil and Gas Regulatory Authority (OGRA) will submit a summary of the revised prices to the prime minister for approval.
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Once approved, the Finance Ministry will issue an official notification, implementing the new rates.
The expected price reduction is linked to ongoing declines in global oil prices. Brent crude futures dropped by 6 cents (0.1%) to $69.22 per barrel, while US West Texas Intermediate (WTI) crude fell by 13 cents (0.2%) to $65.90 per barrel in early trading on Tuesday.
Analysts attribute this trend to concerns over a potential US recession and the impact of global tariffs on economic growth. Additionally, OPEC+ members are preparing to increase supply, which could further influence market prices.
If the price cut is approved, it will provide relief to consumers already facing inflationary pressures. The final decision on new petroleum rates is expected soon.
