In a relief to inflation-hit consumers, the government of Pakistan is expected to announce a significant reduction in petroleum product prices starting next week. Internal estimates suggest petrol could see a decrease of Rs. 15 per liter, while high-speed diesel might see a drop of Rs. 12 per liter, aligned with global crude oil price declines.
Global Brent crude oil has experienced a steady downward trend over the last two weeks, trading below key thresholds. This decline is finally reflecting in local import parity calculations. If the government decides not to increase the petroleum levy further, consumers will get the full benefit of this international price drop.