Petrol price in Pakistan expected from 1 October

The price of petrol is likely to be slashed for the first fortnight of October 1 as the government decided to pass on Big relief.

Over the past few months, people have been grappling with historically high fuel prices. The expected reduction could see petrol and high-speed diesel prices decreasing by up to Rs20 per litre.

This positive development is attributed to a decline in the international price of fuel, which dropped from $101 to $99 per barrel. If approved, this will come as a significant respite for consumers who have been feeling the pinch.

The potential decrease would bring the price of petrol to an estimated range of Rs310-320 per litre, while diesel may see a reduction to around Rs315-320 per litre. The recent surge in petrol prices had crossed the Rs300 mark, prompting concerns about its impact on various industries and the economy at large.

These fluctuations in fuel prices are part of broader economic strategies, aligning with goals set by the International Monetary Fund (IMF). Nevertheless, it’s important to monitor these changes and their effects on various sectors of the economy.