Petrol Prices May Drop by Rs8-10 Per Litre in Pakistan

Pakistanis are hoping for a reduction in petrol prices after international crude oil prices fell by around 5% following a pause in military tensions between the United States and Iran.

According to sources, petrol prices in Pakistan could decrease by Rs8 to Rs10 per litre from Monday. The possible reduction comes after petrol prices increased by around Rs60 per litre last week amid uncertainty in global oil markets.

The current petrol price is Rs335 per litre, while diesel is being sold at Rs383 per litre. However, the Oil and Gas Regulatory Authority (OGRA) and the Petroleum Division have not yet officially announced any change in fuel prices.

International oil prices also declined sharply, with Brent crude falling to around $92 a barrel after reaching nearly $100 last week. The decline followed a pause in US-Iran military strikes, raising hopes for diplomatic efforts to reduce tensions.

Meanwhile, Pakistan’s petroleum industry has raised concerns over the policy of revising fuel prices on a daily basis. Oil marketing companies have warned that the policy could create problems for fuel supply and stock management and have called for their involvement in discussions on the pricing system.