A significant decrease in global oil prices and a consistent strengthening of the Pakistani rupee may lead to a decline in petroleum product prices for the upcoming period.
On the world stage, the cost of gasoline has dropped by $12 per barrel, now resting at $102 per barrel, and diesel prices have also fallen by $9, reaching $117 per barrel.
As a result of the recent drop in international oil prices, local consumers can expect a substantial decrease of Rs38 per liter in gasoline prices and Rs18 per liter in diesel prices.
If implemented, it will mark the second consecutive reduction in petroleum prices, following three consecutive bi-weekly increases.
On September 30, the government decreased gasoline prices by Rs8, setting the new rate at Rs323.38 per liter. High-speed diesel also experienced a reduction of Rs11, bringing the price down to Rs318.18 per liter.
PM Kakar’s Beijing Visit: CPEC Milestones And Highway Advancements In Focus
Meanwhile, during the upcoming four-day visit of caretaker Prime Minister Anwaarul Haq Kakar to Beijing, starting on Oct 16, China and Pakistan will sign significant agreements regarding motorways and highways under the China-Pakistan Economic Corridor (CPEC).
PM Kakar will visit China to attend the ‘Third Belt and Road Forum (BRF) for International Cooperation’ in Beijing from Oct 17 to 18. He will attend the BRF’s opening ceremony and address the high-level forum titled ‘Connectivity in an Open Global Economy’.
The premier will also hold a bilateral meeting with Chinese President Xi Jinping and meet several other leaders during the two-day event. Senior Chinese officials, business leaders, investors, and leaders from 130 countries, including representatives of the Taliban administration, will attend the Forum.
The Beijing Forum commemorates the 10th anniversary of President Xi’s global infrastructure and energy initiative, aiming to revive the ancient Silk Road to enhance global trade.
