Islamabad: The federal government is set to announce a welcomed reduction in petrol and diesel prices today, effective for the next 15 days.
Following a decrease in Brent crude prices on the global market, petrol and diesel prices are expected to see a significant drop. Petrol prices could potentially decrease by Rs5 per liter, while diesel prices may witness a larger reduction of Rs8 per liter.
If these projections hold true, the price of petrol could decline from Rs293.94 per liter to Rs288 per liter, providing relief to consumers at the pump. Diesel prices are anticipated to follow suit, potentially dropping from Rs290.38 to Rs282.38 per liter starting May 1, 2024.
Furthermore, kerosene prices are also expected to see a substantial reduction, possibly decreasing by Rs8 per liter from Rs193.8 to Rs185.5. Similarly, the price of light diesel oil may witness a decline of Rs5.37 per liter, from Rs174.34 to Rs168.97 per liter, as reported.
These potential reductions in petroleum product prices come as positive news for consumers, offering some relief amid record inflation in the country.
