Pakistani consumers may soon witness relief at the fuel pumps as petroleum product prices are expected to decrease by Rs15 per litre following a significant decline in global oil prices, reported 24NewsHD TV channel on Friday.
Market data shows notable reductions in both petrol and diesel ex-refinery prices ahead of the government's upcoming pricing decision.
According to reports, the ex-refinery price of diesel has dropped by Rs31, while the ex-refinery price of petrol has declined by Rs8.54, increasing the possibility of lower retail fuel prices for consumers across Pakistan.
The reports further said that the premium on petrol increased by approximately $2.90 to $2.99 per barrel. As a result, the premium rose from $17.44 per barrel to $20.34 per barrel, partially offsetting the benefit of falling international oil prices.
Despite the increase in premium costs, the overall decline in crude and refined fuel prices continues to support expectations of a reduction in local petrol prices.
Reporter: Ashraf Khan