The continuous decline in the prices of petroleum products in the global market has created a new ray of hope for Pakistani consumers, where the prices of petrol and diesel are expected to further decrease in the coming days.
According to the latest report, the price of petrol in the global market has come down by $2.74 to $66.54 per barrel, while the petrol premium has come down by 13 cents to $5.1.
The price of diesel has also been recorded to decrease by $2.33 per barrel, after which the new price has become $73.99 per barrel.
At the domestic level, the ex-refinery price of petrol has decreased by Rs6.51 per litre, while the ex-refinery price of diesel has decreased by Rs5.33 per litre.
According to government sources, the effects of the decline in global prices are likely to be transmitted to the local market; however, the final decision will be taken by the government on January 15.
According to economic analyst Atif Butt,
“The reduction in the prices of petroleum products directly benefits transport, food items and overall inflation, so this reduction can prove to be very important for the common man.”
Experts say that if the government completely shifts the global trend, a clear reduction in the pace of inflation may be seen in the coming weeks.