ISLAMABAD: Pakistani consumers can expect significant relief as petroleum prices are projected to decrease by up to Rs10 per litre from February 16, Business Recorder reported on Saturday.
According to a fortnightly review, petrol prices are expected to drop by Rs2.49 per litre, bringing the rate down from Rs257.13 to Rs254.64. Meanwhile, high-speed diesel (HSD) may see a more substantial reduction of Rs10 per litre, lowering its price from Rs267.95 to Rs257.95.
Kerosene oil and light diesel oil (LDO) are also anticipated to become cheaper, with potential reductions of Rs3.45 and Rs5.60 per litre, respectively.
The expected price cuts are driven by a decline in global crude oil rates, with Brent crude falling by 1.4% to $74.14 per barrel and WTI dropping 1.5% to $70.33 per barrel. Other contributing factors include a stable exchange rate, existing petroleum levies, and government-imposed taxes.
The official price adjustment will be confirmed by the government in the coming days.
