He stated that Pakistan had committed to passing on relief to the public as global oil prices declined. “A significant decrease in prices will be announced today,” he said, adding that further reductions could follow if international trends continue.

According to the Petroleum Division, the price of petrol has been reduced to Rs409.78 per litre following the latest revision.

He said the federal government has decided to absorb an additional burden of Rs56 billion this week.

According to sources in the Ministry of Finance, it has been proposed that petrol prices be reduced by Rs 10.60 per liter from January 1.

These revised fuel prices have come into effect nationwide, reflecting recent movements in global energy markets.

Diesel price also expected to rise

Petrol and HSD prices in the global market declined by $1.5 and $2.5 per barrel