With a noticeable dip in global petroleum prices, Pakistan may soon witness a substantial reduction in fuel prices. On the international front, petrol prices have dropped by $12 per barrel, settling at $102 per barrel, while diesel prices have seen a $9 decrease, reaching $117 per barrel.
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As a result of these global changes, local consumers can look forward to a potential decrease of Rs38 per liter in petrol and Rs18 per liter in diesel prices.
The consistent strengthening of the Pakistani rupee against the US dollar has further contributed to the decline in fuel prices.
In recent interbank trading, the Pakistani Rupee continued its upward trajectory, reaching Rs283.70 against the US dollar. In the open market, the American currency was priced at Rs284, reflecting a Rs1 decrease against the Pakistani Rupee.
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The final decision on these new prices is set to be announced on October 15.
It’s worth noting that the interim government had already implemented a significant reduction in petrol prices by Rs8 on September 30, resulting in a new price of Rs323.38 per liter. High-speed diesel also experienced a reduction of Rs11, bringing its price down to Rs318.18 per liter.
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