ISLAMABAD: Petrol prices are likely to decline for the next fifteen days amid a significant drop in the global market for these products.
The public can expect significant relief as petroleum product prices are likely to be reduced substantially.
Pakistani consumers may receive relief for the fourth consecutive time, as a cut in petroleum product prices is expected from January 16. Officials say this reduction will further ease the financial burden on consumers following the relief announced at the start of the new year.
Sources indicate that petroleum product prices may be reduced by up to Rs4.59 per litre. Under the proposed revision, petrol prices are expected to drop by Rs4.59 per litre, high-speed diesel by Rs2.70 per litre, kerosene oil by Rs1.82 per litre, and light diesel oil by Rs2.80 per litre.
After approval by the Prime Minister, the Petroleum Division will formally notify the new prices, which will remain effective for the next 15 days.
It is pertinent to mention that on January 1, 2026, the government announced major relief by reducing petrol prices by Rs 10.28 per litre and high-speed diesel by Rs 8.57 per litre.
Officials attribute the expected price cut to a decline in international oil prices, reductions in customs duty, and changes in the exchange rate. On January 11, petrol prices in the global market fell by $2.74 per barrel to $66.54 per barrel.
Experts believe that the anticipated reduction will help curb transport costs and inflation, while providing tangible relief to consumers in their daily expenses.
