Pakistan’s petrol price is likely to decrease by Rs. 38 per litre.

Additionally, a reduction of more than Rs20 per litre in diesel prices is forecast.

On the international oil market, petroleum product prices are expected to drop significantly, possibly by $7 per barrel.

Both the global market, where crude oil prices are currently at $84 per barrel, and the Gulf market, where they have dropped to $92 per barrel, reflect this reduction.

Pakistan is anticipating a significant drop in petrol prices starting on October 16 of about Rs22 per litre, in line with international rates.

Additionally, a more than Rs20 per litre drop in diesel prices is predicted.

The current price of a barrel of oil in Pakistan is estimated to be around Rs26,220 when converted from the dollar rate.

Since September 15, when the price of a barrel was Rs29,898, this represents a significant decrease.

It should be noted that on September 30, the government decreased the cost of gasoline by Rs8, making the new price for a litre Rs323.38.

Also reduced by Rs11, the cost of high-speed diesel is now Rs318.18.

It’s important to note that the Pakistani Rupee’s value has recently decreased by more than 20 Rupees in relation to the US Dollar.

Additionally, a significant influx of petroleum products entered the market about 23 days ago.

The public may experience significant relief as a result of this drop in petroleum prices if the government decides not to levy additional taxes.