ISLAMABAD – In another bid to pass on relief to inflation-hit people, the Pakistani government is expected to announce reduction in petrol and diesel prices for the first half of December 2023.
The last month of this year could see a major reduction in fuel prices, hinting at much-needed relief to consumers, who are under burden as the country battled record inflation.
Sources familiar with the development told Pakistan Observer that petrol and diesel prices are expected to drop by Rs20 in the wake of the downward trend of oil prices in the international market.
Globally, single barrel price of Russian crude oil saw drop of $60 and it is being traded below this price in the market. On the other hand, British Brent witnessed 1pc decline as it is being traded at $80.58 per barrel.
Considering the latest trends in the international market, there will be a massive relief in local prices.
The interim government will announce revised fuel prices today on November 30 and the new rates will be effective from December 1, 2023.
Current Petrol Price in Pakistan
As of November 2023, price of petrol stands at Rs281.34 per litre.
| Petrol | 281.34 |
| Diesel | 296.71 |
Petrol price in December 2023 (expected)
| Petrol | 260 |
| Diesel | 282 |
