December 1st: Unveiling Pakistan's Upcoming Petrol Price

Jawad

29 Nov 2023

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December 1st: Unveiling Pakistan's Upcoming Petrol Price

Amidst the ongoing struggles of the inflation-burdened masses in Pakistan, there emerges a glimmer of hope with indications pointing towards a potential reduction in petrol prices.

A positive development unfolds as global oil prices witness a significant decline, sparking optimism among Pakistani consumers who may soon experience substantial cuts in petrol and diesel prices effective December 1st.

Recent reports highlight the dip in the price of Russian oil per barrel, falling below $60. This decline fuels expectations of a noteworthy reduction in petrol prices in Pakistan, with a potential drop of up to Rs. 7 per litre. Diesel prices may also see a reduction of Rs. 6 per litre.

If approved, this reduction could bring petrol prices down to Rs. 274.34 per litre and diesel prices to Rs. 290 per litre, providing considerable relief to consumers grappling with the burden of high fuel costs.

The decrease is directly attributed to the lowered per barrel cost of Russian oil, exerting a tangible impact on the local fuel market in Pakistan. The Oil and Gas Regulatory Authority (OGRA) has already initiated the process of adjusting fuel prices, taking into account the fluctuations in the international market.

As of the current scenario, petrol prices in Pakistan stand at Rs. 281.34 per litre, while high-speed diesel (HSD) is priced at Rs. 296 per litre.

It is crucial to note that these potential adjustments in fuel prices await the final approval of the Prime Minister. Upon scrutinizing the proposal, an official announcement will be made regarding the changes.

If greenlit, this move holds the potential to alleviate the financial strain on the public, providing respite to individuals and businesses impacted by the recent surge in fuel prices. Readers are encouraged to share their thoughts on the anticipated drop in petrol prices in the comments section below.

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