ISLAMABAD: Petrol prices in Pakistan are poised for a notable reduction as global oil prices drop by $5 per barrel. Media reports suggest that petrol prices are expected to decrease by Rs20 per litre, while diesel prices will see a Rs16 per litre cut, effective November 1.

This development follows a 34% decline in petroleum sales in Pakistan, attributed to high prices. The interim government had previously lowered petrol costs by Rs 40 per litre in response to falling global oil prices and a stronger Pakistani rupee against the US dollar.

However, ongoing tensions in the Middle East have led to a steady increase in global oil prices. As a result, Pakistan’s forthcoming reduction in petrol and diesel prices could offer much-needed relief to consumers, helping ease the burden of rising fuel costs.

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