Islamabad: After a significant decline in the prices of petroleum products in the global market, expectations of further relief in the prices of petrol and diesel have increased in Pakistan.
According to the report, the price of petrol in the global market has decreased by $2.74 per barrel, after which the price of petrol has come down from $69.27 to $66.54 per barrel. Similarly, a decrease of 13 cents per barrel has been recorded in the petrol premium, and the new price has become $5.10.
A significant decrease has also been seen in the global price of diesel, where, after a decrease of $2.33, the price has come down from $76.32 to $73.99 per barrel.
The effects have also started to emerge at the domestic level. The customs duty on petrol has been reduced by 72 paise per litre, while the ex-refinery price of petrol has come down from Rs145.57 to Rs139.6 after a decrease of 68 paise per litre in exchange adjustment.
After the reduction in customs duty and exchange adjustment on diesel, the ex-refinery price has come down from Rs 155.33 to Rs 149.99.
According to sources, the government will take a final decision on the new prices of petroleum products on January 15; however, given the global trend, there are bright prospects for the public to get more relief.
According to energy expert Engineer Shoaib Khan,
“If this decline in the global market continues, it will be possible for the government to reduce prices at the local level, which will also help in controlling inflation.”
