Anticipated for December 16 onwards, a decline in petrol and other petroleum product prices is on the horizon, fueled by a dip in global oil prices and a strengthened Pakistani rupee against the USD. In response to these favorable market dynamics, a noteworthy reduction is expected, providing relief to Pakistanis grappling with inflation concerns.
Insiders familiar with the situation reveal that international oil prices have experienced a downturn, coupled with the Pakistani rupee gaining ground against the US dollar. This combination is poised to translate into a tangible decrease in oil prices, with projections indicating an Rs10 per liter drop in petrol prices and an Rs12 reduction in diesel prices.
Also Read: Petrol Price Forecast: Rs.13 Decline Starting December 16th
The shift is not limited to petrol and diesel; other petroleum products are also poised for a cost adjustment in the latter half of December 2023. The current selling price of petrol, standing at Rs281.34 per liter, is anticipated to decrease to Rs268.24 per liter.
Simultaneously, the expected revised price for diesel is Rs276.05 per liter, and kerosene oil is projected to be priced at Rs192.80 per liter. Light diesel oil (LDO) is slated to witness a substantial reduction from Rs175.93 per liter to Rs165.70 per liter, a decrease of Rs10.23 per liter.
Expected Petrol Price in Pakistan 16 Dec 2023
| POLs | Price |
|---|---|
| Petrol | Rs268.24 |
| Diesel | Rs276.05 |
Currently, the Pakistani government imposes a petroleum levy of Rs60 per liter on petrol, and the Dealers’ Margin is fixed at over Rs8.65 per liter. In a recent development, the caretaker administration, earlier this month, maintained the petrol price at Rs281.34 per liter while implementing a Rs7 per liter reduction in the price of diesel.
