More relief in petrol and diesel prices is expected in Pakistan in October. In line with a decline in global prices, a significant drop in the price of petrol and diesel is anticipated for the second fortnight of October.
Inflation in Pakistan is at an all-time high, petrol prices have reached a triple century, and the country’s oil industry has suffered its worst setback since the Covid lockdown.
According to sources, the price of petroleum products fell significantly after falling by $7 per barrel. The Gulf market, where crude oil prices recently decreased, reflects this decline.
The interim administration is likely to reduce gasoline prices by up to Rs 20 per litre in order to spread the relief across the globe.
Also read: Petrol price to go down after ‘decline in dollar value’: Minister
Additionally, it is anticipated that the cost of diesel will drop by Rs. 15–20 per litre.
As more relief in petrol and diesel prices is expected in Pakistan in October, the local currency’s performance against the US Dollar increased as global prices declined, which will assist the government in making adjustments.
Inflation hit the general population earlier, and petroleum prices saw their first decrease in two months. The interim administration also disclosed a reduction in petrol costs of up to Rs. 11 per litre. At midnight tonight, the new prices will take effect.
From October 1, petrol will now be offered at a reduced price of Rs8, or Rs323.38 per litre. High-speed diesel’s new price per litre has been set at Rs318.18.
Earlier, Murtaza Solangi, the interim information minister, alluded to a drop in fuel prices in the next fortnight’s review, which is due for September 30 as the Pakistani rupee appreciated sharply versus the US dollar.
