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Anticipated for the latter part of January 2024, a marginal Fuel price reduction is on the horizon, attributed primarily to shifts in global crude prices. Amidst economic challenges, Pakistanis are hopeful for temporary relief as consumers can expect a slight reduction in fuel costs starting January 16.
After a period of turbulence, Pakistan is showing early signs of economic activity picking up and external pressures easing, reflecting in the imminent minimal adjustments in petrol prices.
Based on prevailing factors, reports indicate a potential decrease of around Rs5-6 per litre in petrol prices, influenced by recent oil price declines and the ongoing Middle East conflict, which could impact crude rates.
With inflation posing challenges for the people of Pakistan, there is eager anticipation for the government’s decision, with the hope of a significant price reduction to alleviate economic strains.
In December 2024, the federal government maintained petrol and diesel prices unchanged, prompting heightened expectations from the public for a substantial reduction in the upcoming decision-making meeting led by interim Prime Minister Anwaar Kakar.
As of the first half of January 2024, petrol is priced at Rs267.34, and diesel stands at Rs276.21, setting the stage for potential relief for the public grappling with persistently high fuel prices in Pakistan.