[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]The interim government of Pakistan is anticipated to announce a further reduction in petrol and diesel prices for the second half of January, considering fluctuations in global prices and variations in the local currency.
According to reports, the caretaker administration is likely to decrease petrol and diesel prices by up to Rs10 per liter in the upcoming biweekly review. Citing informed sources, local media indicates that the combination of lower international prices and the appreciation of the local currency will enable the government to provide relief to the inflation-affected populace.
Read more : Government Opts To Maintain Petrol Prices For New Year
Additionally, diesel prices are expected to decrease by approximately Rs2 per liter. Global prices of almost all petroleum oil lubricants (POLs) have declined over the past two weeks, and the Pakistani rupee has strengthened against the US dollar. The premium on the procurement of petrol has also diminished.
In the international market, the price of petrol has dropped by more than a dollar, decreasing from $84.50 to $83 per barrel within a couple of weeks, while diesel has followed a negative trajectory.
During talks with the International Monetary Fund (IMF), the Pakistani government set a target to generate Rs869 billion in petroleum levy for the fiscal year 2024. However, experts suggest that this figure could exceed Rs900 billion by the end of June.
Presently, Pakistani consumers face approximately Rs82 per liter in taxes on both petrol and diesel. With the aforementioned adjustments, the petrol price is expected to decrease by around Rs9 per liter, while the diesel price will see a reduction of around Rs2 per liter.[/vc_column_text][/vc_column][/vc_row]
