From October 16, 2023, there is a possibility of further reduction inpetroleum product prices in Pakistan, following a $7 per barrel decrease inglobal petroleum product prices. It’s worth noting that on September 30,the government had already reduced petrol prices by 8 rupees, bringing thenew price to 323.38 rupees per liter. Similarly, high-speed diesel was madecheaper by 11 rupees, with a new price of 318.18 rupees per liter.
With a $7 per barrel decrease in global petroleum product prices, thepotential for even lower prices for petroleum products in Pakistan hasemerged.
On Thursday, crude oil prices stood at 92 dollars in the Gulf market, whilethe global market saw prices at 84 dollars per barrel. According to theserates, petrol prices in Pakistan are expected to decrease by 22 rupees, andthere is also a reduction of more than 20 rupees in the current dieselprice.
