Islamabad: The caretaker federal government is planning to provide relief to the public by reducing the prices of petrol for the next 15 days, aiming for a New Year’s relief initiative.
According to sources, there is a possibility of a reduction of Rs 1.72 per liter in the price of petrol. Meanwhile, an increase of approximately one rupee per liter in the price of High-Speed Diesel (HSD) is expected during this period.
The announcement of the new prices of petroleum products by the government will be made on December 31. If this adjustment is implemented, there is a possibility of the new price of petrol being Rs 265.62 per liter in Pakistan, while the expected increase in the price of diesel would take it up to Rs 277.21 per liter.
The application of revised petroleum prices will take effect from January 1, with the official announcement by the government scheduled for Sunday night after 11 PM.
As per the current prices, the price of petrol in Pakistan is Rs 267.34 per liter, and the price of diesel is Rs 276.21 per liter. It is important to note that these prices will remain in effect until the end of 2023, particularly until the night of Sunday, December 31, 2023.
On the global level, there has been a slight change in oil prices as investors focus on geopolitical tensions in the Middle East. There is hope that the US Federal Reserve will soon begin reducing interest rates, boosting global economic growth, and meeting the demand for fuel.
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