The petrol price in Pakistan is expected to decrease by Rs15 per litre from Sunday, March 16, following the second fortnightly review of the month, scheduled for March 15. This decrease is anticipated due to a significant drop in global petroleum prices.
The price reduction is expected not only for petrol but also for other petroleum products, including diesel, which may decrease by Rs13 per litre.
If petroleum prices decrease in the upcoming fortnightly review, it will serve as a pre-Eid gift for the citizens of Pakistan.
However, the final announcement of petroleum prices in Pakistan will be made after the Oil and Gas Regulatory Authority (OGRA) submits its recommendations for future oil prices on March 15. Subsequently, the finance ministry will consult with Prime Minister Shehbaz Sharif for a final decision.
If the price is slashed, petrol in Pakistan could drop to Rs240.63 per litre from March 16.
In the last fortnightly review on February 28, the federal government approved a decrease in petrol price by Rs0.50 per litre and a reduction in diesel prices by Rs5.31 per litre.
The average citizen is adversely affected by petrol price increases, as it raises the cost of daily commutes. The cost of private and public transportation is also influenced by changes in petrol prices.
The highest petrol price recorded in Pakistan was Rs331.38 per litre in 2023, which contributed to increased inflation.
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