In a major relief for consumers, fuel prices in Pakistan are expected to see a significant reduction starting March 16. Due to the recent decline in global oil prices, the cost of petroleum products in the country is likely to decrease by up to Rs14 per liter, according to industry sources.
Reports indicate that petrol, a key fuel for private vehicles, motorcycles, and small transport, may see the biggest cut. High-speed diesel (HSD), which plays a vital role in heavy transport and agriculture, is also expected to become cheaper, with a possible reduction of Rs8 per liter. Additionally, kerosene and light diesel oil could see price cuts of Rs10 and Rs7 per liter, respectively.
The government had previously made a minor adjustment in fuel prices on February 28, reducing petrol by Re0.50 and HSD by Rs5.31 per liter. However, this upcoming price revision is expected to provide greater relief, especially for middle- and lower-income groups who rely on petrol for daily commuting.
Experts note that the final prices will be determined based on global market fluctuations in the next 24 hours. If the expected reduction is confirmed, it could ease inflationary pressure, as lower diesel costs would reduce transportation expenses for goods, including food and essential commodities.
The official announcement is expected soon, and consumers are hopeful that the fuel price cut will help bring down overall living costs.
