Islamabad: Domestic fuel prices are expected to decline significantly in the upcoming fortnightly review following a sharp drop in global crude oil prices, industry sources said.
Initial estimates suggest that high-speed diesel prices could fall by up to PKR 100 per litre, while petrol prices may decrease by around PKR 60 per litre.
The projected reduction comes after a notable decline in international oil markets, where Brent crude fell by USD 15.24, or nearly 14 percent, to USD 94.03 per barrel. Premiums on petrol and high-speed diesel have also eased.
Sources said the drop in prices follows improved geopolitical conditions after a ceasefire between the United States and Iran, which helped stabilise global oil markets.
They added that if current trends persist and the exchange rate remains stable, Pakistan could witness one of the largest fuel price cuts in recent periods.
However, officials cautioned that fiscal pressures and revenue targets may limit the extent to which the relief is passed on to consumers.
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