Pakistanis can finally breathe a sigh of relief as the federal government is set to slash petrol prices by up to Rs8.50 per litre in response to declining global crude oil rates. The move, expected to take effect from April 16, comes after weeks of high fuel costs squeezing household budgets. Sources indicate that high-speed diesel will also see a significant reduction of Rs6.96 per litre, while kerosene oil and light diesel oil prices may drop by Rs7.47 and Rs7.21 per litre respectively.
The Oil and Gas Regulatory Authority (OGRA) has finalized its recommendations, which will now be reviewed by the Ministry of Finance before an official notification is issued. The decision follows consultations with the Prime Minister’s Office, ensuring the price adjustments align with broader economic relief measures. While the exact figures may still see minor tweaks depending on tax adjustments, the overall trend signals much-needed respite for consumers.
This isn’t the first time the government has stepped in to ease the burden on the public. Last month, authorities opted to keep fuel prices steady but raised the petroleum levy, instead offering relief through reduced electricity tariffs. The latest cuts, however, reflect a more direct approach, passing on the benefits of falling international oil prices to domestic consumers. Market analysts attribute the decline to a combination of factors, including lowered global demand forecasts and an oversupply in crude inventories, despite minor fluctuations due to US-China trade tensions.
If implemented as expected, the new rates will bring petrol down to approximately Rs246.13–246.63 per litre from the current Rs254.63, while diesel could settle between Rs251.64–252.14 per litre. For a population grappling with relentless inflation, even modest reductions offer a glimmer of hope. The government’s decision to prioritize fuel price cuts underscores its attempt to curb inflationary pressures—a move that will likely be welcomed by both households and businesses alike.
With the official announcement imminent, all eyes are on the finance ministry to confirm the final numbers. For now, the prospect of cheaper fuel promises some relief at the pumps, though economists caution that long-term stability will depend on broader global market trends.
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