The Government of Pakistan is expected to announce a reduction in petroleum prices by up to Rs 7 per litre, following a decline in global oil rates.
According to official reports, petrol prices are likely to drop by Rs 3.5 per litre, bringing the new rate down to PKR 249.13 from the current PKR 252.63. Meanwhile, the price of high-speed diesel could see a steeper cut of Rs 7 per litre, reducing it from PKR 256.64 to PKR 249.64.
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If approved, the new rates will come into effect in the next pricing cycle, providing relief to consumers and businesses already burdened by inflation.
The last adjustment in petroleum prices was made on April 31, when both petrol and diesel prices were reduced by Rs 2 per litre.
The expected reduction reflects shifts in the international oil market, and officials suggest further cuts may be possible if the global downward trend continues.
