Starting June 16, consumers in Pakistan can anticipate a significant relief at the pump, with petroleum product prices expected to decrease by up to 9 rupees per liter. This welcome news follows recent budget announcements and estimations from sources within oil marketing companies.
Petrol prices are forecasted to drop by approximately 9 rupees per liter, offering considerable respite to individuals contending with high fuel expenses. Additionally, diesel prices are likely to see a reduction of 4 rupees per liter, while kerosene, an essential fuel, may experience a 2-rupee decrease per liter.
The final prices will be determined by the Oil and Gas Regulatory Authority (OGRA), based on global oil prices recorded on June 13 and 14. The fluctuation of international oil prices will play a pivotal role in establishing the new rates for petroleum products within the country.
This potential reduction in fuel prices aligns with the government’s commitment to alleviate the financial strain on the public and boost economic activity by reducing transportation and production costs.
The anticipated price cuts in petrol, diesel, and kerosene are expected to positively impact various sectors such as agriculture, industry, and transportation, all of which heavily rely on these fuels.