A wave of optimism is building among consumers as petrol prices in Pakistan are likely to fall from January 16, following a sharp decline in global oil prices. The drop in international rates, combined with reduced premiums, customs duties, and favorable exchange rate adjustments, has created strong expectations of significant relief for inflation-hit households and businesses.
According to market sources, the global petrol price has fallen by $2.74 per barrel, while the petrol premium has also declined. At the same time, customs duty and exchange rate adjustments have been reduced, leading to a noticeable fall in the ex-refinery price of petrol, which is expected to translate into lower retail prices in the next government review.
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Diesel prices have also shown a downward trend, reinforcing expectations of an overall reduction in fuel prices. If approved, the price cut could help ease transportation costs, reduce inflationary pressure, and provide much-needed relief to the public starting mid-January.
