‘Bigger’ petrol price cut expected in Pakistan

Petrol prices in Pakistan are expected to fall from Monday (December 1) for the next fortnight, with estimates suggesting reductions of up to Rs7 per litre, according to government and industry sources.

The final decision on the new rates will be announced on Sunday night and will come into effect from Monday.

Preliminary calculations indicate that petrol may decrease by Rs4 per litre, bringing the price down from Rs265.45 to Rs261.45. High-Speed Diesel (HSD) could see a similar decline of Rs4.28 per litre, while kerosene is likely to drop modestly by Re0.73. Light Diesel Oil (LDO) may register the steepest reduction, falling by Rs6.35 per litre to Rs164.45.

Despite the expected cuts, analysts say the relief for the public might be limited. Daily commuters, whether using personal vehicles or ride-hailing services, are unlikely to feel significant savings due to the high cost of travel.

The anticipated downward trend comes after increased global supplies, following the reopening of units at Kuwait’s Al-Zour Refinery, one of the largest refining complexes in the Gulf. Earlier, supply disruptions had pushed diesel prices higher, with the federal government raising HSD rates by Rs6 in the previous fortnightly review.

Global crude prices have also softened, with Brent crude falling 1.44 percent to $62.47 per barrel and WTI crude down 1.68 percent to $58.83 per barrel. Officials said that the combination of improved refinery output and softer international crude rates has created conditions to pass on some relief to consumers.

In major cities like Lahore, Karachi, Islamabad, Sialkot, and Gujranwala, hi-octane petrol is currently being sold at Rs278.95 per litre, while MS super petrol is priced at Rs266.60.