In a prospective development for January 2024, sources suggest that international oil price fluctuations will likely lead to a decrease in petrol prices in Pakistan. The estimated reduction, approximately Rs1.72 per litre, marks a potential third consecutive decline in recent months. This news comes amidst a challenging economic scenario in Pakistan, where the population is grappling with record inflation.
Interestingly, while petrol is anticipated to become more affordable, diesel may witness a contrasting trend with an expected increase of around Rs1-Rs1.30 per litre. This juxtaposition could have diverse impacts on various sectors of the economy and daily life, influencing transportation costs and industrial operations.
The potential reduction in petrol prices aligns with the government’s efforts to alleviate financial burdens on citizens. Given the current crisis-driven inflation in Pakistan, a decrease in fuel prices could provide some relief and contribute to stabilizing the costs of essential commodities, especially food. The interim government is slated to make an official announcement on December 31, 2023, shedding light on the economic trajectory for the beginning of the new year.