As of December 16, 2023, the citizens of Pakistan may witness a welcome decline in petroleum product prices, thanks to a significant drop of $5.49 per barrel in the global market for petrol. This downward trend is expected to result in a substantial reduction of Rs13 per liter for petrol and Rs15 per liter for diesel.
With global prices on the descent, Pakistani citizens have been vocal in their call for a corresponding reduction in domestic fuel costs. Currently, petrol stands at Rs281.34 per liter, and diesel is priced at Rs289.79 per liter. The impending adjustment in prices is eagerly awaited by the public.
The final decision on the revised prices of petroleum products is slated to be announced by the government on December 15. If approved, these adjustments will take effect from December 16, offering a potential reprieve for consumers grappling with high fuel prices.
Earlier predictions in early December hinted at a possible reduction in petroleum prices, prompting expectations of relief among the public. However, the government did not implement any changes despite the global market’s shift, leading to serious concerns among citizens.
Expressing their discontent, citizens emphasize that if the government is prompt in adjusting prices upwards due to global increases, a similar efficiency should be applied in providing relief when global prices decrease. This sentiment underscores the call for a fair and responsive pricing mechanism that considers both upward and downward trends in the international market.
As Pakistan awaits the government’s decision on December 15, the potential reduction in petroleum prices brings hope for financial relief to the public. The citizens’ expectations align with a desire for a fair and transparent pricing system that reflects both global increases and decreases in petroleum product costs.
