In a welcome development for consumers across Pakistan, petrol and diesel prices are expected to fall significantly from April 16, driven by the consistent decline in global crude oil rates.
Sources in the Ministry of Petroleum confirmed that petrol could become cheaper by up to Rs8.50 per litre, while high-speed diesel is likely to see a reduction of Rs6.96 per litre. Kerosene oil and light diesel may also see cuts of Rs7.47 and Rs7.21 per litre, respectively.
The oil industry has submitted its pricing calculations to the Oil and Gas Regulatory Authority (OGRA), which will send final recommendations to the government by April 15. Following this, the Ministry of Finance will issue an official notification after consulting with the Prime Minister.
Officials also hinted that the government may tweak the final prices by adjusting taxes, depending on fiscal needs. The expected reduction is part of a broader global trend, offering some much-needed economic relief amid rising inflation and utility costs.
