Pakistanis could see a slight drop in fuel prices starting tomorrow, as the government prepares to announce updated petrol and diesel rates for November 2024. Sources suggest that, due to declining global oil prices, both petrol and diesel may decrease by around Rs 2-3 per litre. This would bring the cost of petrol down from Rs 243.03 to approximately Rs 240.03 per litre, while high-speed diesel could drop from Rs251.29 to around Rs 248.99 per litre.
This anticipated decrease follows a two-week dip in global oil prices, with petrol falling by about $1.5 per barrel and diesel by around $ 2.5 per barrel. While import premiums on both fuels have stayed stable, this slight shift in international markets could provide some relief for local consumers.
In recent months, fuel taxes have kept local prices high, with about Rs 76 levied on each litre of petrol and diesel, including development levies, customs duties, and distribution costs. The Finance Division is expected to release the official update by midnight, as Pakistanis remain hopeful for lower fuel costs in the coming days.
