As a result of a drop in worldwide oil market pricing, Pakistani petroleum product prices are likely to fall starting from February 16th. An estimated 2 to 2.5 rupees per liter drop in petrol prices and 9 to 10 rupees per liter drop in high-speed diesel (HSD) prices are on the table. There would also be a decrease of Rs3.45 to Rs5 per liter for kerosene and LDO.
Reductions in international benchmark pricing are the cause of the decline, according to sources in the sector. Diesel prices declined $3/barrel, and Brent oil prices plummeted $2/barrel in the last two weeks. On the international market, gasoline prices fell by a more manageable 90 cents per barrel.
Petrol costs Rs257.13 per liter at the moment, while HSD is priced at Rs267.95 per liter. Motorcyclists, owners of smaller vehicles, and those who use public transportation would feel the effects of the price cuts the most. The impact of HSD pricing on heavy transport, agriculture, and the cost of goods is substantial, and it contributes significantly to inflationary pressures.
The government’s goal for the next evaluation, which will be in effect until February’s end, is to finalize the updated prices. Commuters and the transportation sector should anticipate a reduction in financial burden as a result of these changes, which are prompted by global trends.
