Once again, Pakistanis are on the verge of witnessing a biweekly adjustment in gasoline rates. Hopes are high for a potential decline in fuel costs, providing a possible relief for the middle class, weighed down by increasing living expenses because the Petrol Rates Decreased by Rs. 14 in Recent Revision.
Recent indications pointed to a substantial $5.49 per barrel drop in global oil prices, fostering expectations of a considerable decrease in fuel prices across Pakistan. This led to widespread anticipation, with rumors swirling about a potential decrease of Rs. 13 per liter in petrol prices and an even more significant Rs. 15 reduction in diesel costs.
Fast forward to the present, where the government has officially announced its decision. The Finance Division issued a notification outlining the revised fuel prices, considering fluctuations in the global market and the performance of the Pakistani Rupee against the US Dollar. Effective December 16, 2023, the revised petrol price in Pakistan stands at Rs. 267.34, marking a substantial Rs. 14 decrease from the previous rate of Rs. 281.34. Similarly, diesel experienced a significant reduction, now priced at Rs. 276.21 compared to its former rate of Rs. 289.71—a noticeable decrease of Rs. 13.50.