In a much-awaited relief for the public, the government is likely to announce a massive reduction in petroleum prices in the coming days, sources indicate. The expected move comes amid a decline in international oil prices and growing pressure to ease the financial burden on citizens.
According to officials familiar with the matter, petrol and diesel prices could see a significant cut if current market trends continue. The reduction is expected to positively impact transportation costs, inflation, and the prices of essential commodities, offering relief to households and businesses alike.
Economic analysts say lower fuel prices could help stabilize the economy and boost consumer confidence, especially at a time when inflation has affected purchasing power. Transporters and traders have also welcomed the possibility, hoping it will reduce operating costs.
While the final decision rests with the federal government, an official announcement is expected soon. If approved, the price cut would mark one of the biggest fuel relief measures in recent months.
