Based on available data, it appears that Pakistan may see a significant drop in the cost of petrol and diesel. There could be a decrease of Rs 13 for petrol and Rs 15 for diesel per litre, according to reports.
The predicted decrease is associated with a drop in the price of oil globally. In the global market, the price of a barrel of petrol has declined by $5.49 to $94.95, while the price of a barrel of diesel has decreased by $5.13 to $100.05.
The current fuel rates in Pakistan are Rs 289.79 for diesel and Rs 281.34 for petrol per litre. On December 15, the administration is expected to make a final decision regarding the new fuel pricing. The revised rates will go into effect on December 16 if they are authorised.
The shifting dynamics of the world oil market are the cause of this possible decrease in fuel prices. In essence, Pakistani consumers may benefit from the decline in the price of petrol and diesel as a result of the overall decline in global oil prices.
Depending on the state of the market, the government will be the primary decision-maker over whether to carry out these suggested price adjustments.
The government will play a pivotal role in deciding whether to implement these proposed price changes based on the current market conditions.
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