ISLAMABAD: In welcome relief for inflation-weary citizens, petroleum prices in Pakistan are expected to decrease by up to Rs6.50 per liter. Official sources shared the initial internal work on Friday. The revised price summary is currently being prepared before the government’s next review cycle. Officials say the preliminary analysis points to notable reductions across major petroleum products.
Expected Price Cuts
According to the initial calculations, petrol may become cheaper by Rs3.70 per liter. High-speed diesel may drop by Rs4.28 per liter. Kerosene could see a major reduction of Rs7.30 per liter, offering significant relief to low-income households. Light diesel oil may also decrease by Rs6.35 per liter. Officials say these estimates reflect global price movements and recent adjustments in import costs. They also believe the downward trend provides an opportunity to pass on relief to the public.
Government to Receive Final Summary
The complete pricing summary will be sent to the government on November 30. After that, Prime Minister Shehbaz Sharif will take the final decision. Once approved, the new prices will take effect in the next fortnightly fuel price announcement. Officials expect the final figures to align closely with the initial projections. However, they caution that global oil fluctuations could slightly alter the final outcome.
Public Reaction and Economic Impact
The expected reduction has sparked optimism among citizens and transporters. Many hope the relief will reduce commuting expenses and daily transport fares. Transport associations say lower prices may help stabilise freight charges and ease pressure on businesses. Economists also note that lower fuel prices can bring down inflationary pressure in key sectors. However, they also warn that long-term stability will depend on global oil dynamics.
Current Fuel Prices
On November 16, the government kept fuel prices unchanged for the fortnight. The Finance Ministry said petrol would remain at Rs248.38 per liter. High-speed diesel stayed at Rs255.14 per liter. Kerosene remained stable at Rs161.54 per liter. These unchanged prices increased public anticipation for a possible reduction in the next review.
