Govt Expected to Review Fuel Prices Amid Global Market Decline
The federal government is expected to announce a revision in petrol and diesel prices later this week, following a decline in international oil rates and local ex-refinery costs.
According to industry estimates, petrol prices may see a reduction of up to Rs. 20 per litre, while high-speed diesel could potentially decrease by up to Rs. 35 per litre. However, the final decision will be made by the government after reviewing all pricing components.
Data shows that ex-refinery prices of petrol have recently decreased from Rs. 245 to Rs. 225 per litre, while diesel costs have also dropped from Rs. 304 to Rs. 269 per litre.
In global markets, oil prices have also shown a downward trend in recent days, contributing to expectations of possible relief for consumers.
The final retail prices will depend on government taxes, including petroleum levies and other charges, which form a significant portion of fuel costs in the country.
Officials say any adjustment in fuel prices could help ease transportation and production costs if the trend continues.
