Fuel prices likely to witness another drop in Pakistan from October 1

Petrol and diesel prices in Pakistan are expected to drop from October 1, as the government is considering providing relief to consumers in response to a notable decline in global oil prices.

Sources familiar with the matter have indicated that while discussions are ongoing, the exact figures for the price reduction have not yet been finalized.

Brent crude oil prices have recently fallen by around $0.50, now hovering at approximately $72.27 per barrel, while US crude oil prices have dropped by 37 cents.

This global downturn has sparked optimism among Pakistani consumers, with the potential for lower fuel prices at the pumps.

As the government finalizes its decision, consumers are encouraged to be patient and await official confirmation on the petrol and diesel price adjustments.

The federal government reviews fuel prices every two weeks, considering changes in international oil rates, currency exchange rates, and domestic demand.

Earlier, on September 15, the government announced a price reduction, effective from September 16.

According to the Finance Ministry’s notification, petrol prices were reduced by Rs10 per litre, bringing the cost to Rs249.10 per litre, while high-speed diesel (HSD) saw a Rs13.6 per litre cut, now priced at Rs249.69 per litre.