Pakistan is set to experience a major reduction in fuel prices, with cuts of up to Rs10 per litre expected to take effect from February 16, Business Recorder reported on Saturday.
As per the fortnightly review of petroleum prices, consumers will receive substantial relief due to a decline in international crude oil prices.
Expected Price Reductions:
- Petrol: Down Rs2.49 per litre, from Rs257.13 to Rs254.64
- High-Speed Diesel (HSD): Decrease of Rs10 per litre, from Rs267.95 to Rs257.95
- Kerosene Oil: Reduction of Rs3.45 per litre
- Light Diesel Oil (LDO): Price drop of Rs5.60 per litre
The drop in prices follows a decline in global crude oil rates, with Brent crude falling 1.4% to $74.14 per barrel, while WTI dropped 1.5% to $70.33 per barrel. Stable exchange rates, existing petroleum levies, and government tax policies have also influenced the anticipated price cuts.
This reduction is expected to provide relief to consumers, easing inflationary pressures and reducing transportation costs across the country.
