Following a noticeable decline in global petroleum prices, Pakistan may witness a substantial reduction in petroleum product prices. On the global stage, petrol prices have fallen by $12 per barrel, currently resting at $102 per barrel, while diesel prices have experienced a $9 decrease, settling at $117 per barrel.

As a result of this international trend, local consumers in Pakistan can anticipate a significant drop of Rs38 per liter in petrol prices and Rs18 per liter in diesel prices. Additionally, the continuous strengthening of the Pakistani rupee against the US dollar might further contribute to the reduction in petroleum product prices.

Furthermore, in interbank trading, the Pakistani Rupee has maintained its upward momentum against the US dollar, reaching Rs283.70 on Thursday. In the open market, the US currency is valued at Rs284, marking a decrease of Rs1 against the Pakistani Rupee.

The final decision on the new petroleum prices is set to be announced on October 15. It’s noteworthy that the interim government had already reduced petrol prices by Rs8 on September 30, bringing the new price down to Rs323.38 per liter, and high-speed diesel also witnessed a reduction of Rs11, resulting in a price of Rs318.18 per liter.