People in Pakistan may soon get big relief as the government is thinking about cutting petrol prices by more than Rs. 55 per litre.
According to reports, Arab Light crude oil fell by $16 per barrel in just one week. It is now around $80 per barrel. Prime Minister Shehbaz Sharif has directed the relevant authorities to ensure that the benefit of falling international oil prices is passed on to the public. At present, petrol is priced at Rs. 373.78 per litre after a recent cut of Rs. 4 per litre.
The Petroleum Division, Pakistan State Oil (PSO), and OGRA are working together on a plan. If approved, this would be one of the largest single cuts in fuel prices in recent years. It aims to reduce the burden on families, transporters, and businesses struggling with high costs.
However, some oil companies want the cut to happen slowly instead of all at once. No final decision has been made yet, but officials are studying different options.
This expected reduction can help control inflation and make daily travel cheaper. Lower fuel prices would also support the economy by cutting transport and goods costs across the country.
