By In a significant relief for consumers, the federal government is expected to reduce petrol prices starting tomorrow. This anticipated reduction follows a decline in global crude oil prices, prompting the Oil and Gas Regulatory Authority (OGRA) to propose a downward revision in fuel rates.
According to sources, petrol prices may decrease by approximately Rs2.49 per liter, bringing the rate down from the current Rs257.13 per liter. This adjustment aims to provide financial ease to motorists amid fluctuating fuel costs.
Expected Price Reductions on Other Petroleum Products
The price cut is not limited to petrol alone, as other petroleum products are also expected to become more affordable. High-speed diesel (HSD) is projected to witness a significant reduction of Rs9.11 per liter, bringing the new price to Rs258.84 per liter. Similarly, kerosene oil and light diesel oil (LDO) may see price drops of Rs3.45 and Rs5.60 per liter, respectively.
Impact of Global Market Trends
The expected fuel price reduction comes after a recent price hike earlier this month, when petrol and diesel rates were increased due to global market fluctuations. However, with crude oil prices now on a downward trend, the government has an opportunity to pass on the benefit to the public.
A formal announcement regarding the revised fuel prices is anticipated soon, with new rates expected to take effect at midnight. Consumers across the country await the confirmation, hoping for much-needed relief amid economic challenges.
