Islamabad: Pakistan is expected to witness a significant reduction in fuel prices starting March 16, 2025, bringing relief to consumers amid fluctuating global oil rates.
According to industry sources, petrol prices may drop by Rs12 per litre, while high-speed diesel (HSD) is expected to decrease by Rs8 per litre. The anticipated price cut is attributed to declining crude oil prices in the international market and adjustments in the local oil pricing mechanism.
The Oil and Gas Regulatory Authority (OGRA) is set to finalize the new rates based on international market trends and currency exchange rates before announcing the official revision. The final decision will be made after approval from the Ministry of Finance.
This expected price reduction follows a series of fuel price adjustments in recent months. On March 1, petrol prices were reduced by Rs0.50 per litre, while high-speed diesel saw a Rs5.31 per litre drop. Similarly, on February 16, the government had announced a minor reduction in petrol prices by Re1 per litre.
Experts believe that the upcoming fuel price drop will provide much-needed relief to the public, especially in the transport and industrial sectors, where petroleum costs directly impact overall expenses.
The government is expected to announce the final prices on March 15, which will take effect from March 16, 2025.
