[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]Karachi – The interim government plans to reduce petrol and diesel prices by approximately Rs20 per liter in the initial two weeks of December 2023. This adjustment aims to pass on the benefit of the decline in international oil prices to the public, particularly as the crisis-hit nation grapples with soaring inflation and minimal income growth.
Internationally, oil prices have faced downward pressure, dipping below $75 a barrel in mid-November due to concerns about sluggish global economic growth, particularly in China.
Read more : What Will Latest Petrol Price In Pakistan From November 16?
By the end of November 2023, WTI crude was trading at $76.5 a barrel, reflecting a roughly 7% decrease compared to October 29. Brent also experienced a 5.4% drop over the past month, reaching $86.35 a barrel on November 29.
The federal government in Pakistan is set to make the final decision on prices on November 30. If the expected reduction of up to Rs20 per liter is implemented, the anticipated price would be around Rs260, potentially aiding authorities in curbing inflation.[/vc_column_text][/vc_column][/vc_row]
