Lahore, April 10: In a significant development bringing relief to consumers, the Government of Pakistan is expected to announce a reduction in petrol and diesel prices by Rs. 12 per litre, effective from April 16, 2025.
This price cut is attributed to a substantial decline in global oil prices, offering respite amidst rising living costs.
Details of the Price Reduction:
According to reports, the federal government is expected to decrease petrol prices from the current rate of Rs. 254.63 per litre to approximately Rs. 242-243 per litre.
Similarly, diesel prices are anticipated to drop from Rs. 258.64 per litre to around Rs. 248-250 per litre.
Read more: Massive Reduction Expected in Petrol Prices This Week
Global Oil Price Trends:
The anticipated price reduction aligns with recent trends in international oil markets. Brent crude oil, a global benchmark, has seen a significant decline. This decrease is primarily driven by concerns over escalating trade tensions, particularly between the U.S. and China, which have dampened global demand forecasts.
Government’s Official Confirmation:
The Ministry of Energy is expected to issue an official notification confirming the new fuel prices in the coming days. This announcement will provide clarity on the exact pricing and any additional details regarding the implementation of the price reduction.
Read more: Pakistan’s Petrol Pricing Debate: Discounts for Luxury Cars, Extra Costs for Bikers
Impact on Consumers and Economy:
The reduction in fuel prices is poised to have a multifaceted positive impact:
Transportation Costs: Lower fuel prices will directly reduce transportation expenses for both individuals and businesses, leading to decreased logistics costs.
Commodity Prices: With reduced transportation costs, the prices of essential commodities are expected to stabilize or decrease, alleviating some inflationary pressures.
Economic Sentiment: This move is likely to boost consumer confidence, as it provides tangible relief amid economic challenges.
Cautionary Note:
While the current global oil price trends are favorable, experts advise caution due to the volatile nature of international markets. Factors such as geopolitical developments, trade policies, and unforeseen global events can influence oil prices, necessitating vigilant monitoring.
