ISLAMABAD: Petroleum prices in Pakistan are expected to decrease significantly following a decline in global oil prices, with the government considering passing on the relief to consumers.
According to official sources, Prime Minister Shehbaz Sharif has directed the relevant ministries, including Finance and Petroleum, to ensure that the benefit of reduced international oil prices is fully transferred to the public.
The development comes after a ceasefire between the United States and Iran, which has positively impacted global markets. Over the past two weeks, a downward trend has been observed in petroleum prices worldwide, with crude oil prices reportedly falling by around 16 percent.
Sources indicated that a reduction of Rs30 to Rs60 per litre is under consideration. However, a final decision will be made after monitoring Arab crude oil prices over the next couple of days.
The government is also reviewing proposals to extend relief to the public in other sectors, including stabilizing transport fares and reducing freight costs. A special meeting of the federal cabinet is expected to be convened to finalize the decision.
