The prices of petrol and diesel in Pakistan are expected to decrease following a reduction in global oil prices, market sources indicate.

According to international market reports, the price of petrol has dropped by $1.40 per barrel, bringing it down from $7.24 to $5.84 per barrel. Similarly, diesel prices have also witnessed a decrease of $0.60 per barrel. This decline in global oil prices could lead to a significant reduction in fuel costs for Pakistani consumers.

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Market analysts suggest that based on current international pricing trends, petrol prices in Pakistan could see a reduction of Rs3.18 per litre, while diesel prices may decrease by Rs3 per litre. However, the final decision will be made by the government during the next fuel price review.

The reduction in fuel prices, if implemented, would provide much-needed relief to consumers, particularly in the wake of rising inflation and economic challenges.

The government revises fuel prices every fortnight, taking into account global market trends, exchange rates, and local tax adjustments. The final announcement regarding the new prices will be made in the upcoming price review.