The government in Pakistan is expected to lower petrol and diesel prices from Oct 1 as the government considers passing on the benefits to consumers after a sharp fall in global oil rates.
According to the reports, a drop of Rs. 1 per liter is expected in the petrol price, whereas diesel is believed to come down by Rs 3 per liter.
The Finance Minister will make the ultimate announcement after discussing with the Prime Minister on September 30.
Global level Brent crude oil has declined to the tune of about $0.50 and is trading around $72.27 per barrel. In US levels, a decline of 37 cents was evident. The global oil price decline is beginning to shift the optical scenario for Pakistani consumers so as to receive relief at the fuel pumps.
Against these background developments, consumers are advised to exercise patience as the government would officially confirm the changes in petrol and diesel prices after they make some adjustments.
The federal government reviews and adjusts fuel prices every fortnight. They consider fluctuations in international oil prices, changes in the exchange rates as well as domestic demand and supply.
